Landscape Capital Management L.L.C. Decreases Holdings in International Paper (NYSE:IP)

Landscape Capital Management L.L.C. lowered its stake in International Paper (NYSE:IP) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,042 shares of the basic materials company’s stock after selling 5,676 shares during the period. Landscape Capital Management L.L.C.’s holdings in International Paper were worth $2,689,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after acquiring an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD raised its position in International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in International Paper in the second quarter worth about $119,012,000. Diamond Hill Capital Management Inc. boosted its position in shares of International Paper by 125.1% during 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 buying an additional 2,354,341 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in shares of International Paper in the second quarter worth approximately $88,966,000. 81.95% of the stock is owned by institutional investors.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $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 sold a total of 19,440 shares of company stock worth $944,540 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Stock Performance

IP opened at $59.31 on Friday. The firm’s 50-day moving average price is $51.24 and its 200-day moving average price is $47.13. The company has a market cap of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. International Paper has a 52-week low of $32.33 and a 52-week high of $60.22. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its quarterly earnings data 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. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. As a group, equities analysts anticipate that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.