AQR Capital Management LLC Has $30.92 Million Stock Position in International Paper (NYSE:IP)

AQR Capital Management LLC decreased its position in International Paper (NYSE:IP) by 64.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 719,369 shares of the basic materials company’s stock after selling 1,295,582 shares during the period. AQR Capital Management LLC owned about 0.21% of International Paper worth $30,922,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its holdings in shares of International Paper by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of International Paper by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after buying an additional 251 shares in the last quarter. Czech National Bank raised its holdings in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 295 shares in the last quarter. Altrius Capital Management Inc raised its holdings in shares of International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in shares of International Paper by 4.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after buying an additional 318 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the sale, the director now directly owns 41,602 shares of the company’s stock, valued at $1,924,508.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the sale, the director now directly owns 41,602 shares of the company’s stock, valued at $1,924,508.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction 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 directly owns 18,668 shares of the company’s stock, valued at $882,996.40. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock valued at $902,294 over the last three months. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

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

International Paper Stock Down 0.0 %

NYSE IP opened at $49.04 on Monday. The stock has a fifty day moving average of $47.33 and a 200-day moving average of $43.22. The stock has a market capitalization of $17.03 billion, a P/E ratio of 100.08 and a beta of 1.04. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59.

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

International Paper Dividend Announcement

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

International Paper 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.