Atom Investors LP Invests $1.99 Million in International Paper (NYSE:IP)

Atom Investors LP purchased a new stake in shares of International Paper (NYSE:IP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 40,751 shares of the basic materials company's stock, valued at approximately $1,991,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company's stock worth $160,000 after buying an additional 177 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company's stock worth $599,000 after acquiring an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company's stock worth $68,000 after purchasing an additional 239 shares during the period. Retirement Systems of Alabama raised its holdings in International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company's stock worth $3,306,000 after buying an additional 246 shares during the period. Finally, Altrius Capital Management Inc lifted its stake in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company's stock valued at $4,854,000 after buying an additional 296 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

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

International Paper Stock Down 0.1 %

NYSE IP traded down $0.03 during trading on Tuesday, reaching $58.43. The company's stock had a trading volume of 1,286,697 shares, compared to its average volume of 5,268,709. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $20.30 billion, a PE ratio of 49.96 and a beta of 1.02. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The business has a 50-day moving average price of $52.59 and a 200-day moving average price of $48.21.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. International Paper's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, research analysts forecast that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio is 158.12%.

Insider Activity at International Paper

In related news, VP Holly G. Goughnour sold 5,000 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares of the company's stock, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,040 shares of company stock valued at $540,104. Corporate 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.