Pearl River Capital LLC increased its stake in International Paper (NYSE: IP – Get Rating) by 141.7% in the third quarter, according to its latest disclosure to the SEC. The company owned his 43,286 shares of the basic materials company after purchasing an additional 25,376 of his shares during the quarter. Pearl River Capital LLC’s International Paper holdings were valued at $1,372,000 as of his latest SEC filing.
Many other hedge funds and other institutional investors have also increased or decreased their investment in IP recently. Pennsylvania public school official Retrmt SYS raised his stake in International Paper by 6.6% in the first quarter. Pennsylvania Public Schools employee Retrmt SYS now owns 51,817 shares of the basic materials company worth $2,391,000 after he purchased an additional 3,209 shares during the last quarter. Raymond James Trust NA increased his stake in International Paper by 4.5% in the first quarter. Raymond James Trust, NA now owns 8,660 shares of the Basic Materials Company valued at $399,000 after acquiring an additional 369 shares during this period. Desjardins Global Asset Management Inc. increased its international paper holdings by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company worth $31,000 after acquiring an additional 211 shares during the previous quarter. Cibc World Market Inc. purchased new shares of International Paper in the first quarter for approximately $206,000. Finally, Vontobel Holding Ltd. increased its international paper holdings by 1.6% in the first quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company valued at $1,947,000 after purchasing an additional 676 shares during the previous quarter. 83.64% of the shares are currently owned by hedge funds and other institutional investors.
International paper price performance
IP opened Tuesday at $36.62. The company has a 50-day simple moving average of $37.60 and a 200-day simple moving average of $36.57. The company has an equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.35. The stock has a market cap of $12.82 billion, a PER of 9.00 and a beta of 1.07. The International Paper has a 52-week low of $30.69 and a 52-week high of $50.23.
The International Paper (NYSE:IP – Get Rating) last published its quarterly earnings data on Tuesday, January 31st. The basic materials company posted earnings per share of $0.87 for the quarter, beating analyst consensus expectations of $0.69 by $0.18. International Paper’s net profit margin was 7.11% and return on equity was 15.81%. The company’s revenue for the quarter was $5.13 billion, compared to consensus expectations of $5.2 billion. His earnings per share for the company in the same period last year were $0.78. The company’s revenue for the quarter increased by 0.9% compared to the same quarter last year. As a group, analysts expect International Paper to post 2.9 EPS this year.
International newspaper announces dividend
The company recently announced a quarterly dividend payable on Wednesday, March 15th. Shareholders of record on Friday, February 17 will be paid a dividend of $0.4625. The ex-dividend date for this dividend is Thursday, February 16. This represents his $1.85 dividend and his 5.05% dividend yield on an annual basis. International Paper’s Dividend Payout Ratio (DPR) is currently 45.45%.
In other International Paper news, SVP Aimee K. Gregg sold 1,862 shares in trading on Wednesday, February 22nd. The shares sold at an average price of $36.05, giving her a total of $67,125.10. After the transaction, the senior vice president now owns 4,260 shares of the company stock valued at $153,573. The transaction was disclosed in SEC filings accessible via this hyperlink. In other news, Senior Vice President Timothy S. Nichols sold 5,000 shares of the company in a transaction on Thursday, February 16th. The shares sold for an average of $38.95, and the total transaction value he had was $194,750.00. Following the closing of the sale, the Senior Vice President now owns 129,261 shares of the Company’s stock valued at approximately $5,034,715.95. The sale was disclosed in legal filings with the SEC available at this hyperlink. Additionally, SVP Aimee K. Gregg sold 1,862 shares of the company in the Wednesday, February 22nd transaction. The shares sold at an average price of $36.05, bringing her total to $67,125.10. Following the closing of the transaction, the senior vice president now owns directly her 4,260 shares of the company, valued at $153,573. Please see here for the disclosure of this sale. 0.42% of the shares are currently owned by company insiders.
Wall Street Analyst Predicts Growth
IP has been the topic of several research papers. Truist Financial raised its price target for International Paper to $38.00 from his $30.00 in a research report on Wednesday, Feb. 1, giving the company a “hold” rating. Wells Fargo & Company raised its price target on International Paper stock from $32.00 to $38.00 in its Wednesday, February 1 report, giving the stock an “equal weight” rating. UBS Group upgraded International Paper’s rating from ‘sell’ to ‘neutral’ and raised the company’s price target to $43.00 from $31.00 in a research report on Friday, February 3rd. Argus raised his price target for the International Paper from $43.00 to $50.00 in his Thursday, Feb. 2 report, giving the stock a “buy” rating. Finally, Citigroup raised International Paper’s price target from $36.00 to $44.00, giving the company a “neutral” rating in its research notes on Thursday, February 2nd. Three investment analysts gave the stock a Sell rating, five assigned a Hold rating, and two gave a Buy rating. Based on MarketBeat data, the company’s consensus rating is ‘Hold’ with a consensus price target of $38.82.
International Paper Profile
International Paper Co is engaged in manufacturing paper and packaging products. It operates in the segments of industrial packaging, global cellulose fibers and printing papers. The Industrial Packaging segment is involved in the production of containerboard, including linerboard, medium paper, whitetop, recycled linerboard, recycled medium paper, and saturated kraft.
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