Caption Management LLC Sells 119,100 Shares of International Paper Company $IP

by · The Markets Daily

Caption Management LLC decreased its stake in shares of International Paper Company (NYSE:IP – Free Report) by 78.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,500 shares of the basic materials company’s stock after selling 119,100 shares during the quarter. Caption Management LLC’s holdings in International Paper were worth $1,734,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new position in shares of International Paper in the first quarter valued at $34,000. Bernard Wealth Management Corp. acquired a new stake in International Paper in the fourth quarter valued at $37,000. Citizens National Bank Trust Department bought a new position in shares of International Paper in the 1st quarter valued at about $37,000. Grove Bank & Trust grew its position in shares of International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 623 shares during the period. Finally, Toth Financial Advisory Corp acquired a new position in shares of International Paper during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Up 1.6%

IP opened at $49.72 on Monday. The stock has a fifty day moving average of $49.50 and a 200-day moving average of $49.51. The company has a market capitalization of $26.25 billion, a P/E ratio of -497.20, a P/E/G ratio of 0.56 and a beta of 1.05. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33.

International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the company posted $0.55 earnings per share. The company’s revenue was up 42.9% on a year-over-year basis. On average, equities analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. International Paper’s payout ratio is presently -1,850.00%.

Analyst Upgrades and Downgrades

IP has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Wells Fargo & Company restated an “underweight” rating and set a $43.00 target price (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Finally, UBS Group initiated coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.65.

View Our Latest Research Report on IP

About International Paper

(Free Report)

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.

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