International Paper (NYSE:IP) Shares Bought by Caprock Group LLC

Caprock Group LLC lifted its stake in International Paper (NYSE:IP - Free Report) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,332 shares of the basic materials company's stock after purchasing an additional 11,047 shares during the quarter. Caprock Group LLC's holdings in International Paper were worth $4,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Aptus Capital Advisors LLC raised its position in shares of International Paper by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock valued at $292,000 after buying an additional 785 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in International Paper by 5.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company's stock worth $45,788,000 after acquiring an additional 49,125 shares during the last quarter. Curi RMB Capital LLC purchased a new stake in International Paper in the third quarter valued at $4,870,000. Diamond Hill Capital Management Inc. lifted its stake in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of International Paper by 29.6% during the 3rd quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company's stock worth $15,704,000 after purchasing an additional 73,367 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Argus raised shares of 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. Wells Fargo & Company upped their price objective 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. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BNP Paribas lowered 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. Finally, Truist Financial reaffirmed a "buy" rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, International Paper has a consensus rating of "Moderate Buy" and a consensus target price of $51.54.

International Paper Stock Up 0.2 %

Shares of IP stock traded up $0.14 during trading hours on Tuesday, reaching $57.84. 4,262,830 shares of the stock were exchanged, compared to its average volume of 5,322,706. The business's fifty day moving average is $50.78 and its two-hundred day moving average is $46.96. The firm has a market capitalization of $20.09 billion, a P/E ratio of 49.44 and a beta of 1.02. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data 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 for 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 revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, research analysts expect that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Announces Dividend

The company 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 $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, November 15th. International Paper's payout ratio is currently 158.12%.

Insider Buying and Selling

In other news, SVP Clay R. Ellis sold 9,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Holly G. Goughnour sold 5,000 shares of the firm's stock in a transaction dated 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 approximately $792,729.36. The trade was a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $944,540 in the last 90 days. Company insiders own 0.55% of the company's stock.

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.