Quantinno Capital Management LP Increases Stake in International Paper (NYSE:IP)

Quantinno Capital Management LP grew its holdings in International Paper (NYSE:IP) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,486 shares of the basic materials company’s stock after purchasing an additional 4,566 shares during the period. Quantinno Capital Management LP’s holdings in International Paper were worth $3,394,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its position in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in International Paper in the 2nd quarter worth about $119,012,000. Point72 Asset Management L.P. grew its holdings in International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased 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. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IP has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus upgraded 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. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price 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 given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Performance

International Paper stock opened at $55.79 on Tuesday. The company has a market capitalization of $19.38 billion, a PE ratio of 47.68 and a beta of 1.02. The firm has a fifty day simple moving average of $53.43 and a two-hundred day simple moving average of $48.74. 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 has a twelve month low of $32.70 and a twelve month high of $60.36.

International Paper (NYSE:IP) last posted 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 business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts expect that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $48.68, for a total value of $29,208.00. Following the completion of the sale, the director now owns 39,545 shares in the company, valued at approximately $1,925,050.60. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,040 shares of company stock valued at $304,004 in the last quarter. Company insiders own 0.55% of the company’s stock.

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.