Curi RMB Capital LLC Buys Shares of 99,699 International Paper (NYSE:IP)

Curi RMB Capital LLC purchased a new position in shares of International Paper (NYSE:IP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 99,699 shares of the basic materials company’s stock, valued at approximately $4,870,000.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of International Paper by 133.7% during 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after acquiring an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in International Paper during the second quarter worth about $119,012,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new stake in shares of International Paper in the second quarter valued at approximately $88,966,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock worth $910,826 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Stock Performance

Shares of IP opened at $56.93 on Friday. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 48.66 and a beta of 1.02. The firm has a fifty day moving average of $49.96 and a 200-day moving average of $46.27. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52. 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) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share 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 company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that International Paper will post 1.29 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analysts Set New Price Targets

IP has been the subject of several recent research reports. BNP Paribas downgraded 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. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial restated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

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.