Curi RMB Capital LLC Makes New $4.87 Million Investment in International Paper (NYSE:IP)

Curi RMB Capital LLC purchased a new stake in International Paper (NYSE:IP - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 99,699 shares of the basic materials company's stock, valued at approximately $4,870,000.

Several other large investors have also recently bought and sold shares of IP. Price T Rowe Associates Inc. MD lifted its holdings in International Paper by 35.1% during the first 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 in the last quarter. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 8,132,332 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of 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 valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in International Paper during the 2nd quarter worth $119,012,000. Finally, Samlyn Capital LLC acquired a new stake in International Paper in the 2nd quarter worth about $88,966,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Activity at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred 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 transaction, the vice president now directly owns 16,788 shares of the company's stock, valued at $792,729.36. This trade represents a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now directly owns 38,345 shares of the company's stock, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,840 shares of company stock worth $910,826. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial reissued a "buy" rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a research note on Wednesday. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. 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 report on Thursday, July 25th. Finally, Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.54.

International Paper Trading Up 2.0 %

IP stock traded up $1.10 during mid-day trading on Friday, hitting $57.58. 5,180,059 shares of the company were exchanged, compared to its average volume of 5,333,993. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $20.00 billion, a P/E ratio of 48.50 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 business has a fifty day simple moving average of $50.15 and a 200-day simple moving average of $46.34.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm's revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. International Paper's dividend payout ratio is currently 158.12%.

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.