Quadrature Capital Ltd Raises Stock Position in International Paper (NYSE:IP)

Quadrature Capital Ltd raised its holdings in International Paper (NYSE:IP) by 51.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,659 shares of the basic materials company’s stock after buying an additional 11,049 shares during the quarter. Quadrature Capital Ltd’s holdings in International Paper were worth $1,274,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IP. CVA Family Office LLC purchased a new position in International Paper in the 4th quarter worth $27,000. Assenagon Asset Management S.A. boosted its position in International Paper by 70.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 207,329 shares of the basic materials company’s stock valued at $7,495,000 after buying an additional 85,429 shares during the last quarter. Blue Trust Inc. boosted its position in International Paper by 53.8% in the fourth quarter. Blue Trust Inc. now owns 1,924 shares of the basic materials company’s stock valued at $69,000 after buying an additional 673 shares during the last quarter. Global Retirement Partners LLC increased its holdings in International Paper by 8.3% in the 4th quarter. Global Retirement Partners LLC now owns 8,722 shares of the basic materials company’s stock worth $325,000 after buying an additional 667 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in International Paper by 7.0% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 165,864 shares of the basic materials company’s stock worth $5,996,000 after buying an additional 10,907 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

NYSE:IP traded up $0.70 during trading hours on Friday, reaching $46.92. 5,541,837 shares of the company were exchanged, compared to its average volume of 6,209,411. The stock’s 50-day moving average is $44.73 and its 200-day moving average is $39.47. International Paper has a twelve month low of $31.76 and a twelve month high of $47.40. The firm has a market cap of $16.30 billion, a PE ratio of 95.76 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company posted $0.59 EPS. International Paper’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that International Paper will post 2.01 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.94%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio is currently 377.55%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IP shares. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial upped their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus assumed coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.96.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now directly owns 43,402 shares in the company, valued at $1,957,864.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 3,600 shares of company stock worth $150,594. Corporate insiders own 0.55% of the company’s stock.

About International Paper

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.