Tidal Investments LLC Has $1.29 Million Position in International Paper (NYSE:IP)

Tidal Investments LLC reduced its stake in shares of International Paper (NYSE:IP) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,485 shares of the basic materials company’s stock after selling 4,513 shares during the quarter. Tidal Investments LLC’s holdings in International Paper were worth $1,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of International Paper during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in International Paper in the third quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in International Paper during the 3rd quarter worth approximately $28,000. Innealta Capital LLC acquired a new stake in International Paper in the second quarter valued at $26,000. Finally, Eastern Bank acquired a new position in shares of International Paper in the third quarter worth approximately $40,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of IP stock opened at $53.64 on Thursday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $54.40 and its 200-day moving average price is $49.20. The stock has a market cap of $18.63 billion, a PE ratio of 45.85 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 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 the consensus estimate of $4.70 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.4625 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.45%. International Paper’s payout ratio is 158.12%.

Analysts Set New Price Targets

Several analysts have recently commented on IP shares. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada lifted 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. Finally, Truist Financial reissued a “buy” rating and set a $61.00 target price (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 given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction 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 directly owns 39,545 shares in the company, valued at $1,925,050.60. This represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 3,000 shares of company stock worth $158,904. 0.55% of the stock is owned by insiders.

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.