XML Financial LLC bought a new position in International Paper Company (NYSE:IP – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,905 shares of the basic materials company’s stock, valued at approximately $660,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of International Paper during the 2nd quarter valued at about $1,940,896,000. State Street Corp grew its stake in shares of International Paper by 7.1% in the 2nd quarter. State Street Corp now owns 32,999,909 shares of the basic materials company’s stock valued at $1,257,297,000 after buying an additional 2,189,597 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of International Paper in the 2nd quarter valued at approximately $689,498,000. Atlas FRM LLC bought a new stake in shares of International Paper in the 2nd quarter valued at approximately $374,904,000. Finally, Hill City Capital LP acquired a new position in International Paper in the second quarter worth approximately $194,310,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at International Paper
In related news, VP William Hamic sold 24,500 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.
International Paper Price Performance
NYSE IP opened at $35.14 on Wednesday. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The stock’s 50-day moving average is $34.74 and its two-hundred day moving average is $37.36. The firm has a market cap of $18.61 billion, a P/E ratio of -5.36, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.77.
International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.43) EPS. On average, analysts anticipate that International Paper Company will post 1.13 earnings per share for the current fiscal year.
International Paper Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio (DPR) is presently -28.20%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on IP shares. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Bank of America reiterated a “buy” rating on shares of International Paper in a research note on Thursday, October 29th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Citigroup dropped their price target on shares of International Paper from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, UBS Group dropped their price target on shares of International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.44.
Check Out Our Latest Stock Report on International Paper
International Paper Profile
International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.
The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.
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