Hiddenite Capital Partners LP Makes New $3.24 Million Investment in International Paper (NYSE:IP)

Hiddenite Capital Partners LP bought a new position in International Paper (NYSE:IP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 75,000 shares of the basic materials company’s stock, valued at approximately $3,236,000. International Paper comprises about 1.0% of Hiddenite Capital Partners LP’s investment portfolio, making the stock its 18th largest position.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in International Paper in the second quarter worth $26,000. MCF Advisors LLC lifted its position in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after buying an additional 475 shares during the period. Crewe Advisors LLC bought a new stake in shares of International Paper during the 1st quarter valued at about $29,000. Finally, Assetmark Inc. raised its stake in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 649 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IP shares. Truist Financial upped their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Stifel Nicolaus started coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.21.

International Paper Stock Up 1.0 %

International Paper stock opened at $47.60 on Tuesday. International Paper has a 52 week low of $31.76 and a 52 week high of $49.24. The stock has a market cap of $16.53 billion, a price-to-earnings ratio of 97.14 and a beta of 1.04. The company’s 50-day moving average price is $46.00 and its two-hundred day moving average price is $41.91. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts expect that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.89%. International Paper’s dividend payout ratio (DPR) is 377.55%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the transaction, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock valued at $809,922 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

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.