Janus Henderson Group PLC lifted its stake in shares of International Paper (NYSE:IP - Free Report) by 582.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,573 shares of the basic materials company's stock after purchasing an additional 171,176 shares during the period. Janus Henderson Group PLC owned approximately 0.06% of International Paper worth $9,799,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of IP. Hill City Capital LP grew its position in shares of International Paper by 287.5% during the 3rd quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company's stock worth $75,718,000 after buying an additional 1,150,000 shares during the period. Hilltop Holdings Inc. boosted its stake in International Paper by 91.1% in the third quarter. Hilltop Holdings Inc. now owns 11,167 shares of the basic materials company's stock valued at $545,000 after acquiring an additional 5,324 shares during the last quarter. Clearline Capital LP grew its holdings in International Paper by 161.1% during the 3rd quarter. Clearline Capital LP now owns 276,008 shares of the basic materials company's stock worth $13,483,000 after acquiring an additional 170,291 shares during the period. Atom Investors LP acquired a new stake in shares of International Paper during the third quarter worth $1,991,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of International Paper during the third quarter worth $6,699,000. 81.95% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the sale, the director now owns 38,945 shares in the company, valued at $1,872,475.60. This trade represents a 1.52 % 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, SVP Joseph R. Saab sold 2,440 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. This represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,040 shares of company stock valued at $304,004 in the last three months. 0.55% of the stock is currently owned by corporate insiders.
International Paper Stock Down 1.7 %
IP stock traded down $0.99 during trading hours on Monday, reaching $55.79. 4,044,519 shares of the stock were exchanged, compared to its average volume of 5,242,291. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 47.68 and a beta of 1.02. The firm's 50-day moving average is $53.43 and its 200-day moving average is $48.74. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. 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 released its 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 firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities research analysts expect that International Paper will post 1.22 earnings per share for the current year.
International Paper Announces Dividend
The firm 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 $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper's payout ratio is currently 158.12%.
Analyst Ratings Changes
IP has been the topic of a number of recent analyst reports. Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Truist Financial reissued a "buy" rating and issued 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 on the stock. in a research note on Wednesday, November 13th. One 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.54.
Check Out Our Latest Analysis on International Paper
About International Paper
(
Free Report)
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.
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