Kwmg LLC Purchases 4,766 Shares of International Paper (NYSE:IP)

Kwmg LLC grew its position in International Paper (NYSE:IP) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,454 shares of the basic materials company’s stock after purchasing an additional 4,766 shares during the period. Kwmg LLC’s holdings in International Paper were worth $5,168,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IP. Jones Financial Companies Lllp raised its holdings in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $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 worth about $27,000. Assetmark Inc. raised its holdings in 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 in the last quarter. Princeton Global Asset Management LLC bought a new stake in International Paper during the fourth quarter worth about $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in International Paper in the fourth quarter valued at approximately $37,000. 81.95% of the stock is currently owned by institutional investors.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. 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 valued at $144,744 over the last ninety days. 0.55% of the stock is currently owned by insiders.

International Paper Stock Down 0.0 %

IP stock traded down $0.01 during trading on Wednesday, reaching $46.58. 2,907,640 shares of the stock were exchanged, compared to its average volume of 5,480,766. The firm’s 50 day moving average is $41.21 and its 200 day moving average is $38.24. International Paper has a twelve month low of $30.78 and a twelve month high of $47.40. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $16.18 billion, a P/E ratio of 94.69 and a beta of 1.06.

International Paper (NYSE:IP) last posted its quarterly 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 firm had revenue of $4.62 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. As a group, research analysts forecast that International Paper will post 1.85 EPS for the current year.

International Paper Dividend Announcement

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 $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Ratings Changes

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

International Paper Company Profile

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.