Clearline Capital LP Has $13.48 Million Stock Position in International Paper (NYSE:IP)

Clearline Capital LP raised its position in International Paper (NYSE:IP) by 161.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,008 shares of the basic materials company’s stock after buying an additional 170,291 shares during the period. International Paper accounts for about 0.6% of Clearline Capital LP’s investment portfolio, making the stock its 29th biggest position. Clearline Capital LP owned 0.08% of International Paper worth $13,483,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of International Paper in the third quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of International Paper during the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper during the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in International Paper in the 2nd quarter worth approximately $37,000. Finally, Eastern Bank bought a new position in International Paper in the 3rd quarter valued at $40,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

Shares of IP stock opened at $58.83 on Monday. The stock has a market cap of $20.44 billion, a PE ratio of 50.28 and a beta of 1.02. The stock has a 50-day moving average of $52.39 and a 200-day moving average of $48.08. 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 $32.70 and a one 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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that International Paper will post 1.22 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is currently 158.12%.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at $882,996.40. This represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,440 shares of company stock worth $505,070 over the last quarter. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on IP. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Royal Bank of Canada upped their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.