Qube Research & Technologies Ltd bought a new stake in shares of International Paper Co (NYSE:IP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 28,377 shares of the basic materials company’s stock, valued at approximately $1,229,000.
Other institutional investors also recently made changes to their positions in the company. Advisory Alpha LLC bought a new stake in International Paper during the first quarter valued at approximately $25,000. Bremer Bank National Association purchased a new position in shares of International Paper during the first quarter worth approximately $28,000. First Interstate Bank purchased a new position in shares of International Paper during the first quarter worth approximately $37,000. Hanson McClain Inc. raised its stake in shares of International Paper by 82.2% during the first quarter. Hanson McClain Inc. now owns 869 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 392 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in shares of International Paper during the first quarter worth approximately $47,000. Institutional investors and hedge funds own 81.75% of the company’s stock.
Shares of NYSE IP traded up $0.36 during mid-day trading on Friday, hitting $38.99. The stock had a trading volume of 2,599,100 shares, compared to its average volume of 3,665,647. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46. International Paper Co has a 1 year low of $37.55 and a 1 year high of $54.95. The business has a 50 day moving average price of $42.55 and a two-hundred day moving average price of $44.65. The firm has a market cap of $15.18 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 1.71 and a beta of 1.49.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s payout ratio is 37.59%.
In related news, SVP Sharon R. Ryan sold 22,507 shares of International Paper stock in a transaction on Friday, July 26th. The shares were sold at an average price of $44.97, for a total value of $1,012,139.79. Following the transaction, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at $2,768,083.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.
Several research firms have commented on IP. UBS Group set a $50.00 price target on shares of International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. Stephens downgraded shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a research note on Monday, June 24th. KeyCorp reissued a “sell” rating and set a $38.00 price target on shares of International Paper in a research note on Thursday, July 25th. Finally, Citigroup downgraded shares of International Paper from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $45.00 in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $47.82.
International Paper Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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