Kwmg LLC Grows Stock Holdings in International Paper (NYSE:IP)

Kwmg LLC lifted its position in shares of International Paper (NYSE:IP) by 3.7% during the first quarter, HoldingsChannel reports. The firm owned 132,454 shares of the basic materials company’s stock after purchasing an additional 4,766 shares during the quarter. Kwmg LLC’s holdings in International Paper were worth $5,168,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IP. Jones Financial Companies Lllp raised its holdings in International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares in the last quarter. CVA Family Office LLC bought a new stake in International Paper during the fourth quarter valued at $27,000. Assetmark Inc. grew its position in shares of International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 649 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of International Paper during the fourth quarter worth about $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of International Paper during the fourth quarter worth about $37,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Down 0.0 %

Shares of International Paper stock traded down $0.01 during trading on Wednesday, hitting $46.58. 2,907,640 shares of the company were exchanged, compared to its average volume of 5,480,766. The firm has a market capitalization of $16.18 billion, a P/E ratio of 94.69 and a beta of 1.06. International Paper has a 1-year low of $30.78 and a 1-year high of $47.40. The firm’s fifty day moving average price is $41.21 and its 200 day moving average price is $38.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the firm earned $0.53 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side analysts expect that International Paper will post 1.85 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s dividend payout ratio is currently 377.55%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 3,600 shares of company stock worth $144,744 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IP shares. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Wells Fargo & Company upped their price target on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their price objective for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Truist Financial upped their price objective on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

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.