Two Sigma Advisers LP Buys Shares of 494,400 International Paper (NYSE:IP)

Two Sigma Advisers LP purchased a new stake in International Paper (NYSE:IP - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 494,400 shares of the basic materials company's stock, valued at approximately $24,151,000. Two Sigma Advisers LP owned approximately 0.14% of International Paper as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Aptus Capital Advisors LLC boosted its stake in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock worth $292,000 after purchasing an additional 785 shares in the last quarter. Curi RMB Capital LLC purchased a new position in International Paper during the 3rd quarter worth approximately $4,870,000. Sumitomo Mitsui Trust Group Inc. raised its position in International Paper by 5.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company's stock worth $45,788,000 after buying an additional 49,125 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in 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 worth $206,921,000 after buying an additional 2,354,341 shares during the last quarter. Finally, Raymond James & Associates raised its position in International Paper by 29.6% during the 3rd quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company's stock worth $15,704,000 after buying an additional 73,367 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IP shares. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. Royal Bank of Canada raised their price target on 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 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and an average price target of $51.54.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now directly owns 37,145 shares of the company's stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. The trade was a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,040 shares of company stock valued at $304,004. Corporate insiders own 0.55% of the company's stock.

International Paper Trading Up 0.1 %

NYSE:IP traded up $0.07 during mid-day trading on Friday, reaching $56.78. The company's stock had a trading volume of 2,204,679 shares, compared to its average volume of 3,890,151. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock has a market cap of $19.73 billion, a P/E ratio of 48.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company's fifty day simple moving average is $53.29 and its two-hundred day simple moving average is $48.62.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio is presently 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.