Quantinno Capital Management LP Purchases 4,566 Shares of International Paper (NYSE:IP)

Quantinno Capital Management LP increased its position in International Paper (NYSE:IP) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 69,486 shares of the basic materials company’s stock after purchasing an additional 4,566 shares during the quarter. Quantinno Capital Management LP’s holdings in International Paper were worth $3,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. CWM LLC increased its stake in shares of International Paper by 8.7% during the second quarter. CWM LLC now owns 16,348 shares of the basic materials company’s stock valued at $705,000 after purchasing an additional 1,305 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of International Paper in the 2nd quarter worth approximately $201,000. Czech National Bank increased its position in International Paper by 8.7% during the 2nd quarter. Czech National Bank now owns 66,187 shares of the basic materials company’s stock valued at $2,856,000 after buying an additional 5,290 shares in the last quarter. Friedenthal Financial bought a new position in International Paper during the 2nd quarter valued at approximately $51,000. Finally, ORG Partners LLC grew its stake in shares of International Paper by 15,800.0% in the second quarter. ORG Partners LLC now owns 1,908 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 1,896 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Down 1.7 %

IP opened at $55.79 on Tuesday. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 47.68 and a beta of 1.02. The firm has a 50 day moving average price of $53.43 and a 200-day moving average price of $48.74. International Paper has a twelve month low of $32.70 and a twelve month 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.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Equities research analysts forecast that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IP. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insiders Place Their Bets

In other International Paper news, 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 value of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,040 shares of company stock valued at $304,004. Insiders own 0.55% of the company’s stock.

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.