Invenomic Capital Management LP Acquires New Shares in International Paper (NYSE:IP)

Invenomic Capital Management LP bought a new position in shares of International Paper (NYSE:IPGet Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 9,460 shares of the basic materials company’s stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. Ten Capital Wealth Advisors LLC bought a new position in shares of International Paper during the third quarter worth about $34,000. Concord Wealth Partners grew its position in shares of International Paper by 527.0% during the 4th quarter. Concord Wealth Partners now owns 721 shares of the basic materials company’s stock worth $34,000 after buying an additional 606 shares during the period. Masso Torrence Wealth Management Inc. acquired a new stake in shares of International Paper during the 4th quarter worth approximately $35,000. Ahrens Investment Partners LLC acquired a new stake in shares of International Paper during the 4th quarter worth approximately $38,000. Finally, Lee Financial Co grew its position in shares of International Paper by 214.3% during the 4th quarter. Lee Financial Co now owns 943 shares of the basic materials company’s stock worth $44,000 after buying an additional 643 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Shares of NYSE IP traded down $0.34 during mid-day trading on Friday, reaching $47.48. 3,943,025 shares of the company’s stock were exchanged, compared to its average volume of 3,192,034. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 10.50 and a beta of 0.91. International Paper has a 52 week low of $40.45 and a 52 week high of $65.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.73 and a quick ratio of 1.31. The firm has a 50-day moving average price of $46.82 and a two-hundred day moving average price of $46.77.

International Paper (NYSE:IPGet Rating) last released its earnings results on Thursday, April 28th. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.24. International Paper had a return on equity of 17.16% and a net margin of 8.14%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts forecast that International Paper will post 4.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 27th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 26th. International Paper’s dividend payout ratio (DPR) is currently 40.93%.

Several analysts have recently commented on the stock. Citigroup reduced their price objective on shares of International Paper from $54.00 to $53.00 in a research report on Friday, April 8th. KeyCorp cut their target price on International Paper from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, January 28th. Seaport Res Ptn cut International Paper from a “buy” rating to a “neutral” rating in a report on Friday, January 28th. Deutsche Bank Aktiengesellschaft increased their target price on International Paper from $47.00 to $48.00 in a report on Monday, April 18th. Finally, StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.31.

In other International Paper news, SVP William Thomas Hamic sold 3,630 shares of International Paper stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $47.72, for a total transaction of $173,223.60. Following the completion of the transaction, the senior vice president now owns 22,050 shares of the company’s stock, valued at approximately $1,052,226. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Paper Co /New/ International sold 4,132,000 shares of International Paper stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $34.75, for a total value of $143,587,000.00. Following the transaction, the insider now directly owns 4,614,358 shares of the company’s stock, valued at approximately $160,348,940.50. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

International Paper Company Profile (Get Rating)

International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

See Also

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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