447,899 Shares in International Paper (NYSE:IP) Bought by WINTON GROUP Ltd

WINTON GROUP Ltd purchased a new stake in shares of International Paper (NYSE:IP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 447,899 shares of the basic materials company’s stock, valued at approximately $19,327,000. International Paper accounts for approximately 1.3% of WINTON GROUP Ltd’s portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Principal Securities Inc. acquired a new stake in shares of International Paper in the fourth quarter worth $173,000. Envestnet Portfolio Solutions Inc. raised its position in shares of International Paper by 18.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,192 shares of the basic materials company’s stock valued at $296,000 after buying an additional 1,288 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of International Paper by 17.9% in the fourth quarter. Ieq Capital LLC now owns 8,115 shares of the basic materials company’s stock valued at $293,000 after buying an additional 1,232 shares during the period. Janney Montgomery Scott LLC grew its position in International Paper by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 87,545 shares of the basic materials company’s stock worth $3,165,000 after buying an additional 856 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in International Paper by 12.9% during the fourth quarter. Quadrant Capital Group LLC now owns 4,141 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 474 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on IP. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of International Paper from $52.00 to $56.00 and gave the company 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 issued a “hold” rating and a $48.70 price target for the company. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Three 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. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Up 1.6 %

IP stock opened at $48.70 on Friday. The business has a fifty day moving average price of $46.35 and a 200 day moving average price of $42.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $49.39. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of 99.39 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 2.34% and a return on equity of 7.28%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Analysts expect that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.80%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insiders Place Their Bets

In other news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares in the company, valued at $792,729.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the sale, the director now directly owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,840 shares of company stock valued at $898,268. 0.55% of the stock is currently owned by corporate 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.