Stance Capital LLC Has $2.41 Million Position in International Paper Company $IP

Stance Capital LLC grew its stake in International Paper Company (NYSE:IP) by 59.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,177 shares of the basic materials company’s stock after acquiring an additional 22,761 shares during the quarter. Stance Capital LLC’s holdings in International Paper were worth $2,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in International Paper by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company’s stock valued at $523,000 after purchasing an additional 302 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of International Paper by 15.7% during the fourth quarter. Corient Private Wealth LLC now owns 69,766 shares of the basic materials company’s stock worth $2,756,000 after purchasing an additional 9,490 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of International Paper by 2.6% in the 4th quarter. Hsbc Holdings PLC now owns 906,269 shares of the basic materials company’s stock valued at $35,743,000 after buying an additional 22,984 shares during the period. SHP Wealth Management acquired a new position in shares of International Paper in the 4th quarter valued at $38,000. Finally, Clearwave Capital LLC bought a new stake in shares of International Paper in the 4th quarter valued at $364,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott Tozier purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director directly owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

International Paper Stock Up 0.2%

Shares of IP stock opened at $36.88 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper Company has a 1 year low of $29.26 and a 1 year high of $56.13. The firm’s fifty day moving average price is $33.73 and its two-hundred day moving average price is $38.19. The firm has a market capitalization of $19.53 billion, a P/E ratio of -5.80 and a beta of 0.96.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities analysts predict that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.85 annualized dividend and a yield of 5.0%. International Paper’s dividend payout ratio is -29.09%.

Analysts Set New Price Targets

IP has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price objective on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on International Paper in a report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price target for the company. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 23rd. BNP Paribas Exane cut their price objective on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Citigroup decreased their price objective on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.