Curi RMB Capital LLC Invests $4.87 Million in International Paper (NYSE:IP)

Curi RMB Capital LLC bought a new stake in International Paper (NYSE:IP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 99,699 shares of the basic materials company’s stock, valued at approximately $4,870,000.

Several other large investors also recently bought and sold shares of IP. Massmutual Trust Co. FSB ADV boosted its holdings in shares of International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 239 shares during the period. Retirement Systems of Alabama boosted its stake in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares during the period. Altrius Capital Management Inc increased its position in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of International Paper by 4.2% in the second quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 327 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of International Paper by 38.8% in the 3rd quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 1.0 %

Shares of IP opened at $56.93 on Friday. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The firm has a market capitalization of $19.78 billion, a P/E ratio of 48.66 and a beta of 1.02. The firm has a 50-day moving average price of $49.96 and a 200 day moving average price of $46.27. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that International Paper will post 1.29 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is currently 158.12%.

Analysts Set New Price Targets

IP has been the subject of several analyst reports. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday. Truist Financial restated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now owns 38,345 shares in the company, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. This represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock worth $910,826 in the last ninety days. 0.55% of the stock is owned by corporate insiders.

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.