Stance Capital LLC Has $2.21 Million Stock Holdings in International Paper Company $IP

by · The Cerbat Gem

Stance Capital LLC cut its stake in shares of International Paper Company (NYSE:IP – Free Report) by 38.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 47,096 shares of the basic materials company’s stock after selling 29,209 shares during the quarter. International Paper comprises approximately 0.8% of Stance Capital LLC’s investment portfolio, making the stock its 24th largest holding. Stance Capital LLC’s holdings in International Paper were worth $2,205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of International Paper by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 63,879,190 shares of the basic materials company’s stock valued at $2,991,462,000 after purchasing an additional 1,255,650 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in International Paper by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock valued at $2,763,426,000 after buying an additional 4,201,422 shares during the period. State Street Corp boosted its position in International Paper by 3.2% during the second quarter. State Street Corp now owns 29,386,616 shares of the basic materials company’s stock valued at $1,376,175,000 after acquiring an additional 902,741 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in International Paper by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after acquiring an additional 1,592,411 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of International Paper by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,340,382 shares of the basic materials company’s stock worth $622,133,000 after acquiring an additional 294,296 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of IP opened at $38.57 on Friday. International Paper Company has a 1 year low of $35.56 and a 1 year high of $60.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. The stock’s fifty day moving average price is $41.24 and its two-hundred day moving average price is $45.84. The firm has a market cap of $20.37 billion, a PE ratio of -14.78, a PEG ratio of 1.21 and a beta of 1.09.

International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the previous year, the company posted $0.33 EPS. The company’s revenue for the quarter was up 56.4% compared to the same quarter last year. On average, equities research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.8%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

Analyst Upgrades and Downgrades

IP has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group reduced their price target on shares of International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, September 26th. Citigroup reduced their target price on International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. UBS Group dropped their price target on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, Bank of America raised International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, International Paper has a consensus rating of “Hold” and a consensus price target of $50.44.

Read Our Latest Stock Analysis on IP

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

International Paper Profile

(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.

Further Reading

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