447,899 Shares in International Paper (NYSE:IP) Bought by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in shares of International Paper (NYSE:IP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 447,899 shares of the basic materials company’s stock, valued at approximately $19,327,000. International Paper comprises about 1.3% of WINTON GROUP Ltd’s portfolio, making the stock its 10th biggest holding. WINTON GROUP Ltd owned approximately 0.13% of International Paper at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IP. Price T Rowe Associates Inc. MD boosted its position in International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the period. Bank of New York Mellon Corp increased its stake in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after acquiring an additional 8,132,332 shares during the period. Franklin Resources Inc. raised its holdings in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Norges Bank acquired a new stake in International Paper in the fourth quarter worth approximately $94,913,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of International Paper during the 2nd quarter valued at $81,187,000. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on IP shares. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company increased their target price 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. Royal Bank of Canada upped their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Up 1.6 %

Shares of NYSE IP opened at $48.70 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a one year low of $31.76 and a one year high of $49.39. The business has a 50-day moving average price of $46.35 and a two-hundred day moving average price of $42.24. The firm has a market capitalization of $16.92 billion, a PE ratio of 99.39 and a beta of 1.04.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. International Paper’s dividend payout ratio is 377.55%.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at $882,996.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,840 shares of company stock valued at $898,268. Insiders own 0.55% of the company’s stock.

International Paper Company 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.