Lourd Capital LLC Invests $398,000 in International Paper Co (IP)

Lourd Capital LLC acquired a new position in International Paper Co (NYSE:IP) in the 3rd quarter, HoldingsChannel reports. The firm acquired 8,090 shares of the basic materials company’s stock, valued at approximately $398,000.

Other institutional investors have also recently modified their holdings of the company. Qube Research & Technologies Ltd bought a new position in International Paper in the 2nd quarter worth $106,000. Private Capital Group LLC boosted its holdings in International Paper by 227.0% in the 1st quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after buying an additional 1,453 shares during the period. Squar Milner Financial Services LLC bought a new position in International Paper in the 2nd quarter worth $125,000. Flagship Harbor Advisors LLC bought a new position in International Paper in the 2nd quarter worth $139,000. Finally, Vigilant Capital Management LLC boosted its holdings in International Paper by 375.1% in the 2nd quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock worth $161,000 after buying an additional 2,438 shares during the period. 82.22% of the stock is owned by institutional investors.

IP opened at $43.53 on Thursday. International Paper Co has a 52 week low of $43.50 and a 52 week high of $66.94. The stock has a market cap of $20.10 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.99 and a beta of 1.54. The company has a quick ratio of 1.13, a current ratio of 1.57 and a debt-to-equity ratio of 1.57.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.09 by $0.10. International Paper had a net margin of 12.95% and a return on equity of 29.24%. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that International Paper Co will post 5.21 EPS for the current fiscal year.

International Paper declared that its Board of Directors has approved a share buyback plan on Tuesday, October 9th that allows the company to repurchase $430.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.59%. This is an increase from International Paper’s previous quarterly dividend of $0.48. International Paper’s dividend payout ratio is 54.44%.

In other International Paper news, SVP Sharon R. Ryan sold 15,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $52.87, for a total transaction of $793,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total transaction of $893,010.00. Following the transaction, the insider now directly owns 108,538 shares of the company’s stock, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders have sold a total of 46,725 shares of company stock valued at $2,484,864 in the last three months. Insiders own 0.32% of the company’s stock.

IP has been the subject of several recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $65.00 target price (down previously from $71.00) on shares of International Paper in a report on Monday, July 23rd. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Wednesday, August 1st. Stephens set a $57.00 target price on shares of International Paper and gave the stock a “hold” rating in a report on Tuesday, September 11th. Deutsche Bank initiated coverage on shares of International Paper in a report on Monday, June 18th. They issued a “hold” rating and a $64.00 target price for the company. Finally, MED dropped their target price on shares of International Paper from $65.00 to $64.00 and set a “hold” rating for the company in a report on Monday, June 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $62.50.

International Paper Company Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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