International Paper (NYSE:IP) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of International Paper (NYSE:IP) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,368,401 shares of the basic materials company’s stock after acquiring an additional 99,720 shares during the quarter. Geode Capital Management LLC owned about 2.41% of International Paper worth $407,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in International Paper during the 3rd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in shares of International Paper in the 2nd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in International Paper in the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in International Paper during the 3rd quarter valued at about $28,000. Finally, Eastern Bank purchased a new stake in International Paper during the 3rd quarter valued at about $40,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of NYSE IP opened at $55.58 on Friday. The company has a market capitalization of $19.31 billion, a PE ratio of 47.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The company’s fifty day moving average price is $53.95 and its 200 day moving average price is $48.96. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $4.70 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts predict that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $48.68, for a total transaction of $29,208.00. Following the completion of the sale, the director now owns 39,545 shares of the company’s stock, valued at $1,925,050.60. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 3,600 shares of company stock worth $188,592 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus target price of $51.54.

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.