LRI Investments LLC Acquires 451 Shares of International Paper Company (NYSE:IP)

LRI Investments LLC increased its holdings in shares of International Paper Company (NYSE:IP) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,287 shares of the basic materials company’s stock after acquiring an additional 451 shares during the quarter. LRI Investments LLC’s holdings in International Paper were worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares during the period. Summit Financial LLC increased its position in International Paper by 4.3% in the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company’s stock worth $293,000 after buying an additional 224 shares during the last quarter. Greenleaf Trust increased its position in International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after buying an additional 224 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock valued at $480,000 after buying an additional 231 shares during the period. Finally, Capital Investment Advisors LLC lifted its position in shares of International Paper by 6.0% during the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company’s stock valued at $223,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $52.47 on Monday. The company has a 50 day moving average of $47.86 and a 200 day moving average of $50.98. The stock has a market cap of $27.70 billion, a P/E ratio of 44.85, a P/E/G ratio of 0.48 and a beta of 1.02. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. International Paper Company has a 12 month low of $42.73 and a 12 month high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the prior year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a $0.4625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.53%. International Paper’s payout ratio is 158.12%.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer directly owned 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IP. Wells Fargo & Company increased their price target on International Paper from $40.00 to $43.00 and gave the stock an “underweight” rating in a research note on Thursday. Truist Financial set a $59.00 target price on shares of International Paper in a research report on Wednesday, May 28th. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. UBS Group initiated coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a “buy” rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has an average rating of “Hold” and an average target price of $55.65.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.