Quantbot Technologies LP Invests $9.57 Million in International Paper (NYSE:IP)

Quantbot Technologies LP purchased a new stake in shares of International Paper (NYSE:IP) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 195,920 shares of the basic materials company’s stock, valued at approximately $9,571,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. First Horizon Advisors Inc. lifted its holdings in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 177 shares during the last quarter. Empirical Finance LLC raised its stake in International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after buying an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 239 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after acquiring an additional 246 shares during the last quarter. Finally, Altrius Capital Management Inc increased its holdings in shares of International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of IP opened at $59.56 on Tuesday. The firm has a market capitalization of $20.69 billion, a P/E ratio of 50.91 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 has a one year low of $32.51 and a one year high of $60.36. The business has a fifty day moving average of $51.65 and a 200 day moving average of $47.54.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.11%. International Paper’s payout ratio is presently 158.12%.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the transaction, the director now owns 39,802 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the 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 completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, 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 19,440 shares of company stock worth $944,540 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BNP Paribas downgraded 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 note on Wednesday, November 13th. Argus raised shares of 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $61.00 price objective (up 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.