Quantbot Technologies LP Buys Shares of 125,746 International Paper Company $IP

Quantbot Technologies LP acquired a new stake in shares of International Paper Company (NYSE:IP) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 125,746 shares of the basic materials company’s stock, valued at approximately $4,791,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of International Paper by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock worth $2,535,058,000 after acquiring an additional 310,834 shares during the period. Capital International Investors grew its position in International Paper by 29.4% in the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after purchasing an additional 14,422,616 shares during the period. Capital Research Global Investors raised its stake in International Paper by 0.4% during the 4th quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after buying an additional 204,654 shares during the last quarter. BlackRock Inc. bought a new position in shares of International Paper during the 2nd quarter valued at $1,940,896,000. Finally, State Street Corp boosted its stake in shares of International Paper by 1.3% in the 4th quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after buying an additional 397,673 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the firm’s 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 completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This trade represents a 18.64% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on IP. Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Royal Bank Of Canada raised their target price on International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Tuesday, July 14th. Loop Capital set a $61.00 price objective on shares of International Paper in a report on Tuesday, July 28th. Finally, Truist Financial reaffirmed a “buy” rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Stock Up 2.9%

IP stock opened at $41.53 on Friday. The business’s 50-day moving average price is $39.21 and its 200-day moving average price is $37.92. The stock has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm posted $0.20 EPS. International Paper’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts forecast that International Paper Company will post 1.34 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. International Paper’s dividend payout ratio (DPR) is -28.37%.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.