Rockefeller Capital Management L.P. Grows Stock Position in International Paper (NYSE:IP)

Rockefeller Capital Management L.P. lifted its holdings in shares of International Paper (NYSE:IP - Free Report) by 584.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,314 shares of the basic materials company's stock after purchasing an additional 111,281 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in International Paper were worth $6,366,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in International Paper by 2.9% in the third quarter. Hantz Financial Services Inc. now owns 67,687 shares of the basic materials company's stock valued at $3,307,000 after acquiring an additional 1,900 shares during the last quarter. Financial Counselors Inc. increased its stake in International Paper by 0.6% in the third quarter. Financial Counselors Inc. now owns 100,949 shares of the basic materials company's stock valued at $4,931,000 after acquiring an additional 616 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in International Paper by 2.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company's stock valued at $97,686,000 after acquiring an additional 42,151 shares during the last quarter. Corsair Capital Management L.P. bought a new position in International Paper in the third quarter valued at approximately $488,000. Finally, CreativeOne Wealth LLC increased its stake in International Paper by 96.5% in the third quarter. CreativeOne Wealth LLC now owns 21,769 shares of the basic materials company's stock valued at $1,063,000 after acquiring an additional 10,691 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company's stock, valued at approximately $1,969,402.96. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,040 shares of company stock valued at $540,104. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IP. Argus raised shares of International Paper from a "hold" rating to a "buy" rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. BNP Paribas lowered shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Truist Financial restated a "buy" rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and a consensus target price of $51.54.

International Paper Trading Down 1.7 %

Shares of NYSE:IP traded down $0.99 during mid-day trading on Wednesday, reaching $57.72. 3,272,918 shares of the company's stock were exchanged, compared to its average volume of 5,266,740. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The business's fifty day moving average price is $52.79 and its 200-day moving average price is $48.34. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 49.66 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm earned $0.64 earnings per share. International Paper's quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Dividend Announcement

The business 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. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio (DPR) is currently 158.12%.

International Paper Company 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.