5,100,000 Shares in International Paper Company $IP Acquired by Hill City Capital LP

Hill City Capital LP acquired a new stake in International Paper Company (NYSE:IP) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 5,100,000 shares of the basic materials company’s stock, valued at approximately $194,310,000. International Paper accounts for about 5.0% of Hill City Capital LP’s portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC lifted its stake in shares of International Paper by 36.7% in the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares during the last quarter. Rothschild Investment LLC increased its holdings in International Paper by 4.2% in the 4th quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 242 shares in the last quarter. Independent Advisor Alliance raised its position in International Paper by 3.3% in the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 244 shares during the last quarter. Horizon Investments LLC grew its holdings in shares of International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 267 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in shares of International Paper by 1.3% in the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock valued at $853,000 after buying an additional 298 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $41.53 on Monday. The firm’s 50-day moving average price is $39.21 and its 200-day moving average price is $37.90. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The firm has a market capitalization of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Equities research analysts anticipate that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

Insider Buying and Selling at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares in the company, valued at $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised shares of International Paper from a “neutral” rating to an “overweight” rating and raised their price target for the company from $51.00 to $61.00 in a research note on Tuesday, July 28th. Truist Financial reiterated a “buy” rating and set a $49.00 price target (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Seaport Research Partners restated a “buy” rating and issued a $46.00 price objective on shares of International Paper in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded International Paper from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

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.