290,530 Shares in International Paper (NYSE:IP) Bought by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in International Paper (NYSE:IP - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 290,530 shares of the basic materials company's stock, valued at approximately $14,192,000. Wellington Management Group LLP owned about 0.08% of International Paper at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IP. FMR LLC increased its holdings 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 purchasing an additional 8,370,273 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in International Paper by 133.7% in the 2nd 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 buying an additional 8,132,332 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in International Paper by 125.1% in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 buying an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 acquiring an additional 537,825 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of NYSE:IP traded up $0.68 during midday trading on Friday, hitting $55.54. The company had a trading volume of 3,254,901 shares, compared to its average volume of 5,211,820. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The company has a fifty day moving average of $53.95 and a two-hundred day moving average of $48.99. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 47.47 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.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping 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 analysts' expectations of $4.70 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. The business's quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, November 15th. International Paper's payout ratio is 158.12%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 3,600 shares of company stock valued at $188,592 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.