International Paper (NYSE:IP) Shares Purchased by Cullinan Associates Inc.

Cullinan Associates Inc. boosted its position in shares of International Paper (NYSE:IP) by 18.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 108,965 shares of the basic materials company’s stock after acquiring an additional 17,185 shares during the quarter. Cullinan Associates Inc.’s holdings in International Paper were worth $4,252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. CVA Family Office LLC purchased a new position in shares of International Paper during the fourth quarter worth $27,000. MCF Advisors LLC lifted its position in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Assetmark Inc. boosted its holdings in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in International Paper during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on IP shares. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Truist Financial restated a “buy” rating and set a $52.00 price target on shares of International Paper in a research report on Thursday, June 27th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and boosted their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Finally, Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction 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 transaction, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 3,600 shares of company stock valued at $147,054. Insiders own 0.55% of the company’s stock.

International Paper Stock Down 0.4 %

Shares of IP stock traded down $0.17 on Tuesday, reaching $43.17. 3,711,713 shares of the stock were exchanged, compared to its average volume of 5,774,878. 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 company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 88.45 and a beta of 1.06. The business’s 50 day moving average price is $41.76 and its 200 day moving average price is $38.40.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business 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%. International Paper’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. As a group, sell-side analysts expect that International Paper will post 1.86 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.29%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

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.