Dayah Capital LLC acquired a new stake in shares of International Paper Company (NYSE:IP – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 128,780 shares of the basic materials company’s stock, valued at approximately $4,907,000. International Paper comprises 1.7% of Dayah Capital LLC’s holdings, making the stock its 9th largest holding.
Several other hedge funds have also recently modified their holdings of IP. McIlrath & Eck LLC grew its stake in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new position in International Paper during the fourth quarter valued at approximately $25,000. Aberdeen Wealth Management LLC purchased a new position in International Paper during the 2nd quarter valued at approximately $27,000. Ascentis Independent Advisors bought a new stake in International Paper in the 1st quarter worth approximately $28,000. Finally, DV Equities LLC bought a new stake in International Paper in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Insider Activity
In related news, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.
Analyst Ratings Changes
View Our Latest Research Report on International Paper
International Paper Trading Up 0.2%
NYSE:IP opened at $41.13 on Wednesday. The stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of -6.31 and a beta of 0.94. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $39.40 and a 200 day moving average of $37.87.
International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion for 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. As a group, sell-side analysts anticipate that International Paper Company will post 1.34 earnings per share for the current fiscal year.
International Paper Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. International Paper’s dividend payout ratio (DPR) is -28.37%.
International Paper Profile
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.
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