Kovitz Investment Group Partners LLC Boosts Stake in International Paper (NYSE:IP)

Kovitz Investment Group Partners LLC raised its position in shares of International Paper (NYSE:IP) by 31.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,508 shares of the basic materials company’s stock after buying an additional 27,467 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in International Paper were worth $5,415,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of International Paper during the 3rd quarter valued at about $14,192,000. Worldquant Millennium Advisors LLC bought a new stake in International Paper during the third quarter worth approximately $11,186,000. Two Sigma Advisers LP purchased a new stake in International Paper during the third quarter valued at approximately $24,151,000. Quantinno Capital Management LP lifted its stake in shares of International Paper by 7.0% in the 3rd quarter. Quantinno Capital Management LP now owns 69,486 shares of the basic materials company’s stock valued at $3,394,000 after purchasing an additional 4,566 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of International Paper by 3.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 281,980 shares of the basic materials company’s stock worth $13,775,000 after purchasing an additional 8,914 shares during the period. 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 stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the sale, the director now owns 39,545 shares of the company’s stock, valued at approximately $1,925,050.60. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the transaction, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $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. Insiders sold 6,040 shares of company stock worth $304,004 over the last three months. 0.55% of the stock is owned by corporate insiders.

International Paper Trading Up 0.1 %

Shares of IP opened at $56.78 on Monday. 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 firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 48.53 and a beta of 1.02. The company has a 50-day moving average of $53.29 and a 200 day moving average of $48.66. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results 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. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, research analysts expect that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.26%. International Paper’s dividend payout ratio is currently 158.12%.

Analyst Ratings Changes

IP has been the topic of several recent research reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. 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. Royal Bank of Canada lifted 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. Finally, Truist Financial reissued 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 research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.