18,155 Shares in International Paper Company $IP Purchased by Commerce Bank

Commerce Bank acquired a new stake in International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,155 shares of the basic materials company’s stock, valued at approximately $692,000.

A number of other large investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of International Paper in the second quarter valued at about $494,000. Quantbot Technologies LP acquired a new position in shares of International Paper in the second quarter worth $4,791,000. Evolve Private Wealth LLC acquired a new stake in International Paper during the second quarter worth approximately $258,000. Westpac Banking Corp purchased a new stake in shares of International Paper in the second quarter valued at $40,000. Finally, Korea Investment CORP purchased a new position in shares of International Paper during the 2nd quarter worth about $8,214,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In related news, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction dated 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 approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

International Paper Trading Up 0.8%

NYSE:IP opened at $41.31 on Thursday. The business has a fifty day moving average of $39.51 and a 200-day moving average of $37.85. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of -6.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25.

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

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.4625 per share. 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 is -28.37%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IP. Wells Fargo & Company lifted their target price on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Tuesday, July 14th. Truist Financial reissued a “buy” rating and issued a $49.00 price target (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Weiss Ratings raised shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Finally, Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus price target 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.