15,025 Shares in International Paper (NYSE:IP) Purchased by HBK Investments L P

HBK Investments L P bought a new position in International Paper (NYSE:IP - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,025 shares of the basic materials company's stock, valued at approximately $734,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its position in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company's stock worth $871,447,000 after buying an additional 8,370,273 shares during the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 8,132,332 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% during 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. Charles Schwab Investment Management Inc. boosted its position in shares of International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company's stock worth $174,867,000 after purchasing an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company's stock valued at $161,006,000 after buying an additional 537,825 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of NYSE IP traded up $0.45 during midday trading on Friday, reaching $58.83. 1,819,835 shares of the stock were exchanged, compared to its average volume of 5,295,982. 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 50-day simple moving average of $52.18 and a two-hundred day simple moving average of $47.84. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 49.90 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The company 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 firm's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. As a group, analysts anticipate that International Paper will post 1.22 EPS 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. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.14%. International Paper's payout ratio is 158.12%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial reiterated a "buy" rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus raised 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. Royal Bank of Canada boosted their price target on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, BNP Paribas cut 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.54.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares of the company's stock, valued at $2,120,891.55. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This represents a 22.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,440 shares of company stock worth $505,070. 0.55% of the stock is owned by corporate insiders.

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.