Howard Capital Management Inc. Acquires New Shares in International Paper (NYSE:IP)

Howard Capital Management Inc. bought a new position in International Paper (NYSE:IP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,683 shares of the basic materials company’s stock, valued at approximately $202,000.

Several other large investors have also recently bought and sold shares of IP. Price T Rowe Associates Inc. MD lifted its holdings in International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after buying an additional 5,492,035 shares during the period. Bank of New York Mellon Corp boosted its position in shares of International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Norges Bank acquired a new stake in International Paper during the fourth quarter worth approximately $94,913,000. Finally, ING Groep NV increased its holdings in International Paper by 74.2% in the fourth quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock worth $29,952,000 after purchasing an additional 352,934 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,000 shares of company stock worth $809,922. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the subject of several research analyst reports. Truist Financial lifted their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and raised their price objective for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Stock Down 0.9 %

IP opened at $47.11 on Friday. The company has a market cap of $16.36 billion, a P/E ratio of 96.14 and a beta of 1.04. International Paper has a 12 month low of $31.76 and a 12 month high of $49.24. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $45.92 and its 200-day moving average price is $41.73.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.93%. International Paper’s payout ratio is 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.