Quantbot Technologies LP Invests $9.57 Million in International Paper (NYSE:IP)

Quantbot Technologies LP acquired a new stake in International Paper (NYSE:IP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 195,920 shares of the basic materials company’s stock, valued at approximately $9,571,000. Quantbot Technologies LP owned about 0.06% of International Paper at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IP. Innealta Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of International Paper during the second quarter worth $37,000. Eastern Bank bought a new position in shares of International Paper in the third quarter worth $40,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of International Paper in the third quarter valued at $42,000. 81.95% of the stock is owned by institutional investors.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 15.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now owns 39,802 shares in the company, valued at $1,969,402.96. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock worth $944,540 in the last ninety days. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

IP has been the topic of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper 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 research report on Wednesday, November 13th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Stock Up 0.4 %

IP opened at $59.56 on Tuesday. The business’s fifty day simple moving average is $51.65 and its 200 day simple moving average is $47.54. International Paper has a 52 week low of $32.51 and a 52 week high of $60.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market cap of $20.69 billion, a PE ratio of 50.91 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly 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 net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

International Paper Profile

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.