International Paper (NYSE:IP) is Hill City Capital LP’s 9th Largest Position

Hill City Capital LP grew its stake in shares of International Paper (NYSE:IP) by 287.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,550,000 shares of the basic materials company’s stock after buying an additional 1,150,000 shares during the period. International Paper accounts for approximately 5.0% of Hill City Capital LP’s portfolio, making the stock its 9th largest holding. Hill City Capital LP owned approximately 0.45% of International Paper worth $75,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its position in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares in the last quarter. Empirical Finance LLC increased its position in shares of International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares in the last quarter. Retirement Systems of Alabama lifted its position in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares during the last quarter. Finally, Altrius Capital Management Inc grew its stake in International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This trade represents a 22.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,040 shares of company stock valued at $540,104 over the last quarter. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IP shares. Truist Financial restated a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Price Performance

Shares of International Paper stock opened at $58.46 on Tuesday. The company’s fifty day simple moving average is $52.59 and its two-hundred day simple moving average is $48.21. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The firm has a market cap of $20.31 billion, a PE ratio of 49.96 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts expect that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.16%. International Paper’s dividend payout ratio is presently 158.12%.

International Paper Company Profile

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.