True Freedom Investing LLC Invests $4.57 Million in International Paper Company $IP

True Freedom Investing LLC acquired a new stake in shares of International Paper Company (NYSE:IP) during the second quarter, HoldingsChannel.com reports. The fund acquired 128,121 shares of the basic materials company’s stock, valued at approximately $4,574,000.

Other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC lifted its holdings in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. acquired a new position in International Paper during the fourth quarter valued at approximately $25,000. DV Equities LLC acquired a new position in International Paper during the fourth quarter valued at approximately $29,000. Ascentis Independent Advisors bought a new position in shares of International Paper in the first quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors bought a new position in shares of International Paper in the third quarter valued at approximately $36,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

NYSE IP opened at $41.53 on Friday. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. The company’s 50-day simple moving average is $39.21 and its 200 day simple moving average is $37.92.

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

International Paper Announces Dividend

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

Insider Buying and Selling at International Paper

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on IP. Truist Financial reaffirmed a “buy” rating and set a $49.00 price objective (up from $46.00) on shares of International Paper in a report on Friday, July 31st. JPMorgan Chase & Co. upgraded shares of International Paper from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $51.00 to $61.00 in a report on Tuesday, July 28th. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Tuesday, July 14th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Nine research 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. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Profile

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.