Csenge Advisory Group Reduces Stake in International Paper (NYSE:IP)

Csenge Advisory Group reduced its position in International Paper (NYSE:IP) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,330 shares of the basic materials company’s stock after selling 588 shares during the period. Csenge Advisory Group’s holdings in International Paper were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Franklin Resources Inc. lifted its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Greenhaven Associates Inc. lifted its position in shares of International Paper by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after acquiring an additional 25,640 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of International Paper by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after acquiring an additional 35,930 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of International Paper by 82.8% in the first quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after acquiring an additional 2,755,441 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of International Paper in the fourth quarter valued at about $94,913,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 0.6 %

NYSE IP traded up $0.27 during trading hours on Thursday, hitting $42.97. 2,164,591 shares of the company were exchanged, compared to its average volume of 5,749,848. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a market cap of $14.92 billion, a PE ratio of 87.10 and a beta of 1.06. The stock has a 50-day moving average price of $43.13 and a 200 day moving average price of $38.74. International Paper has a 52 week low of $30.78 and a 52 week high of $47.40.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts forecast that International Paper will post 1.9 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 Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.31%. International Paper’s dividend payout ratio is currently 377.55%.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 3,600 shares of company stock worth $147,054 over the last 90 days. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IP shares. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Stifel Nicolaus initiated coverage on International Paper in a research report on Tuesday. They issued a “hold” rating and a $48.70 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $52.00 target price on shares of International Paper in a report on Thursday, June 27th. Finally, Wells Fargo & Company lifted their target price on International Paper from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $45.46.

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.