Quilter Plc Decreases Stock Position in International Paper Company $IP

Quilter Plc cut its stake in International Paper Company (NYSE:IP) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,966 shares of the basic materials company’s stock after selling 3,492 shares during the quarter. Quilter Plc’s holdings in International Paper were worth $3,979,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC boosted its stake in shares of International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 346 shares during the period. AlphaQuest LLC lifted its stake in International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 634 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of International Paper during the second quarter valued at approximately $33,000. Zions Bancorporation National Association UT bought a new position in shares of International Paper during the first quarter valued at approximately $34,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in shares of International Paper in the second quarter worth approximately $37,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $36.41 on Thursday. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of -364.10, a PEG ratio of 0.54 and a beta of 1.12. International Paper Company has a 52-week low of $35.79 and a 52-week high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $43.87 and its 200 day moving average is $46.91.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same period last year, the business posted $0.33 EPS. The firm’s revenue was up 56.4% compared to the same quarter last year. On average, sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.1%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Citigroup dropped their price objective on International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company lowered their target price on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 31st. Weiss Ratings cut shares of International Paper from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. BNP Paribas Exane reduced their price target on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.92.

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.