12th Street Asset Management Company LLC Purchases New Stake in International Paper Co (IP)

12th Street Asset Management Company LLC purchased a new stake in shares of International Paper Co (NYSE:IP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 250,686 shares of the basic materials company’s stock, valued at approximately $12,319,000. International Paper makes up about 2.9% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 13th largest holding. 12th Street Asset Management Company LLC owned approximately 0.06% of International Paper as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd grew its position in International Paper by 23.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 24,005 shares of the basic materials company’s stock worth $1,250,000 after purchasing an additional 4,523 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of International Paper during the 2nd quarter valued at $106,000. Old Port Advisors bought a new stake in shares of International Paper during the 2nd quarter valued at $1,937,000. Neville Rodie & Shaw Inc. grew its position in shares of International Paper by 6.0% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 69,831 shares of the basic materials company’s stock valued at $3,432,000 after acquiring an additional 3,931 shares during the period. Finally, Sentinel Trust Co. LBA bought a new stake in shares of International Paper during the 2nd quarter valued at $206,000. 82.24% of the stock is owned by institutional investors.

IP has been the subject of a number of recent research reports. ValuEngine downgraded shares of International Paper from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Goldman Sachs Group downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Wednesday, October 10th. Stephens set a $57.00 price objective on shares of International Paper and gave the company a “hold” rating in a research report on Tuesday, September 11th. Finally, Seaport Global Securities initiated coverage on shares of International Paper in a research report on Tuesday, October 23rd. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.64.

In related news, SVP John V. Sims sold 4,725 shares of International Paper stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total transaction of $256,803.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of International Paper stock in a transaction on 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 owns 108,538 shares in the company, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,725 shares of company stock worth $1,691,814. 0.32% of the stock is owned by corporate insiders.

IP opened at $46.99 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.13 and a current ratio of 1.59. International Paper Co has a fifty-two week low of $39.60 and a fifty-two week high of $66.94. The firm has a market cap of $18.89 billion, a P/E ratio of 13.46, a PEG ratio of 0.92 and a beta of 1.53.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.09. International Paper had a net margin of 13.68% and a return on equity of 29.75%. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.90 billion. As a group, equities analysts expect that International Paper Co will post 5.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a dividend of $0.50 per share. This is a boost from International Paper’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, November 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.26%. International Paper’s payout ratio is 54.44%.

International Paper announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 9th that authorizes the company to repurchase $430.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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About International Paper

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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