16,070 Shares in International Paper Company $IP Bought by North Dakota State Investment Board

North Dakota State Investment Board bought a new stake in shares of International Paper Company (NYSE:IP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,070 shares of the basic materials company’s stock, valued at approximately $533,000.

A number of other hedge funds have also recently bought and sold shares of the company. Man Group plc acquired a new stake in International Paper during the 2nd quarter worth about $24,640,000. Mitchell & Pahl Private Wealth LLC purchased a new position in shares of International Paper in the third quarter worth approximately $2,122,000. The Manufacturers Life Insurance Company increased its position in shares of International Paper by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock worth $44,478,000 after acquiring an additional 389,092 shares in the last quarter. Amundi acquired a new stake in shares of International Paper during the second quarter valued at approximately $82,666,000. Finally, HighTower Advisors LLC acquired a new stake in shares of International Paper during the second quarter valued at approximately $1,603,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research analyst reports. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Truist Financial restated a “buy” rating and set a $39.00 price objective (down from $41.00) on shares of International Paper in a research report on Thursday. UBS Group lowered their target price on International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Bank of America reissued a “buy” rating on shares of International Paper in a research report on Thursday. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $46.00 target price on shares of International Paper in a research report on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.44.

International Paper Stock Performance

IP stock opened at $36.40 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59. The firm has a market cap of $19.28 billion, a PE ratio of -5.55, a P/E/G ratio of 5.38 and a beta of 0.97. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The business’s 50-day moving average price is $34.96 and its two-hundred day moving average price is $37.43.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the firm earned ($0.43) EPS. International Paper’s revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that International Paper Company will post 1.13 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 annualized dividend and a yield of 5.1%. International Paper’s dividend payout ratio (DPR) is currently -28.20%.

International Paper Company Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.