TrinityBridge Ltd Buys 29,957 Shares of International Paper Company $IP

TrinityBridge Ltd bought a new stake in shares of International Paper Company (NYSE:IP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 29,957 shares of the basic materials company’s stock, valued at approximately $994,000.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Aberdeen Wealth Management LLC acquired a new stake in International Paper in the 2nd quarter valued at $27,000. Salomon & Ludwin LLC purchased a new position in International Paper in the third quarter valued at about $25,000. Ascentis Independent Advisors acquired a new position in shares of International Paper during the first quarter worth about $28,000. Delta Asset Management LLC TN acquired a new position in shares of International Paper during the second quarter worth about $31,000. Finally, Essential Investment Partners LLC acquired a new position in shares of International Paper during the third quarter worth about $27,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, VP William Hamic sold 24,500 shares of International Paper stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

International Paper Price Performance

IP opened at $35.14 on Wednesday. The company has a fifty day simple moving average of $34.74 and a 200 day simple moving average of $37.36. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of -5.36, a PEG ratio of 5.42 and a beta of 0.97. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the business posted ($0.43) EPS. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts expect that International Paper Company will post 1.13 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, November 16th. This represents a $1.85 annualized dividend and a dividend yield of 5.3%. International Paper’s dividend payout ratio (DPR) is currently -28.20%.

Analysts Set New Price Targets

IP has been the subject of several analyst reports. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Bank of America reiterated a “buy” rating on shares of International Paper in a report on Thursday, October 29th. Argus reissued a “buy” rating and set a $45.00 price target on shares of International Paper in a research report on Thursday, September 24th. Royal Bank Of Canada boosted their price target on International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company decreased their price target on International Paper from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.44.

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.