Point72 Asia Singapore Pte. Ltd. Invests $227,000 in International Paper (NYSE:IP)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of International Paper (NYSE:IP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,265 shares of the basic materials company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Corient Private Wealth LLC raised its holdings in International Paper by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 68,289 shares of the basic materials company’s stock worth $2,469,000 after buying an additional 496 shares during the period. Assetmark Inc. raised its holdings in shares of International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 649 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of International Paper by 5.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 164,895 shares of the basic materials company’s stock valued at $5,961,000 after acquiring an additional 8,933 shares in the last quarter. Intech Investment Management LLC acquired a new position in International Paper in the 4th quarter worth approximately $210,000. Finally, United Services Automobile Association purchased a new position in International Paper during the 4th quarter worth approximately $395,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IP shares. Truist Financial increased their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.21.

International Paper Trading Up 2.0 %

International Paper stock opened at $49.05 on Friday. International Paper has a one year low of $31.76 and a one year high of $50.68. The company’s fifty day moving average price is $47.20 and its two-hundred day moving average price is $42.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 100.10 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is currently 377.55%.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the firm’s 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 sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,840 shares of company stock worth $902,294. 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.