Aigen Investment Management LP Buys Shares of 11,238 International Paper (NYSE:IP)

Aigen Investment Management LP bought a new position in International Paper (NYSE:IP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,238 shares of the basic materials company's stock, valued at approximately $549,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position 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 worth $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 worth $824,716,000 after acquiring an additional 5,492,035 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in International Paper in the second quarter valued at approximately $119,012,000. Diamond Hill Capital Management Inc. raised its holdings in International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock worth $206,921,000 after purchasing an additional 2,354,341 shares during the period. Finally, Samlyn Capital LLC bought a new position in shares of International Paper during the second quarter worth $88,966,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Holly G. Goughnour sold 5,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company's stock, valued at approximately $792,729.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Holly G. Goughnour sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company's stock, valued at $792,729.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper 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 completion of the sale, the senior vice president now directly owns 18,668 shares of the company's stock, valued at approximately $882,996.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,840 shares of company stock valued at $910,826. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

Shares of IP traded up $0.40 during midday trading on Thursday, hitting $56.78. The company's stock had a trading volume of 2,536,783 shares, compared to its average volume of 5,328,206. 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 has a one year low of $31.76 and a one year high of $59.52. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 48.19 and a beta of 1.02. The company's fifty day simple moving average is $49.96 and its two-hundred day simple moving average is $46.27.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts expect that International Paper will post 1.24 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, November 15th. International Paper's payout ratio is currently 158.12%.

Analysts Set New Price Targets

Several analysts recently commented on IP shares. Truist Financial reaffirmed a "buy" rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. Argus upgraded shares of 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. 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 report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $51.54.

About International Paper

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.