QRG Capital Management Inc. Has $13.64 Million Holdings in International Paper (NYSE:IP)

QRG Capital Management Inc. lifted its holdings in International Paper (NYSE:IP - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,288 shares of the basic materials company's stock after buying an additional 10,260 shares during the period. QRG Capital Management Inc. owned approximately 0.08% of International Paper worth $13,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Norden Group LLC acquired a new position in shares of International Paper during the 1st quarter worth about $292,000. Janney Montgomery Scott LLC lifted its holdings in shares of International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company's stock valued at $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Choreo LLC boosted its position in shares of International Paper by 7.2% in the 1st quarter. Choreo LLC now owns 8,387 shares of the basic materials company's stock valued at $327,000 after purchasing an additional 564 shares during the period. Fidelis Capital Partners LLC purchased a new position in International Paper during the 1st quarter worth approximately $86,000. Finally, Daiwa Securities Group Inc. increased its position in International Paper by 21.6% during the first quarter. Daiwa Securities Group Inc. now owns 37,201 shares of the basic materials company's stock worth $1,452,000 after buying an additional 6,605 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a "hold" rating and a $48.70 target price for the company. Argus upgraded shares of International Paper from a "hold" rating to a "buy" rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Truist Financial reissued a "buy" rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday. Finally, Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper currently has an average rating of "Moderate Buy" and a consensus price target of $51.96.

International Paper Price Performance

NYSE IP traded up $0.96 on Tuesday, reaching $57.56. The company's stock had a trading volume of 7,457,699 shares, compared to its average volume of 5,364,975. The firm has a market cap of $20.00 billion, a PE ratio of 49.20 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a 52 week low of $31.76 and a 52 week high of $57.80. The business has a 50-day moving average price of $48.81 and a 200 day moving average price of $45.36.

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 analysts' consensus estimates of $0.24 by $0.20. The firm 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 for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. Sell-side analysts expect that International Paper will post 1.51 EPS for the current year.

International Paper Announces Dividend

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

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares of the company's stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now owns 41,002 shares of the company's stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The stock was 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 approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,440 shares of company stock valued at $938,486. Insiders own 0.55% of the company's stock.

International Paper Profile

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.