Pitcairn Co. Makes New $3.17 Million Investment in International Paper (NYSE:IP)

Pitcairn Co. bought a new position in International Paper (NYSE:IP) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 64,899 shares of the basic materials company’s stock, valued at approximately $3,170,000.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper during the 3rd quarter worth $28,000. Innealta Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter worth $26,000. Eastern Bank purchased a new stake in shares of International Paper during the 3rd quarter worth $40,000. Abich Financial Wealth Management LLC purchased a new stake in shares of International Paper during the 3rd quarter worth $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of International Paper during the 2nd quarter worth $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Up 0.2 %

International Paper stock opened at $59.31 on Friday. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 50.69 and a beta of 1.02. The business’s 50-day moving average price is $51.45 and its 200 day moving average price is $47.29. 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 52 week low of $32.51 and a 52 week high of $60.22.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, sell-side analysts anticipate that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.12%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the 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 completion of the sale, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $944,540 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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.