International Paper (NYSE:IP) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in International Paper (NYSE:IP) by 2.2% in the third quarter, HoldingsChannel reports. The fund owned 1,999,719 shares of the basic materials company’s stock after purchasing an additional 42,151 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in International Paper were worth $97,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of IP. FMR LLC increased its position in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Bank of New York Mellon Corp raised its position in International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in International Paper during the second quarter valued at $119,012,000. Diamond Hill Capital Management Inc. grew its position in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in shares of International Paper during the second quarter worth about $88,966,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,440 shares of company stock valued at $505,070 over the last three months. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada boosted their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Argus upgraded 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.54.

International Paper Price Performance

Shares of NYSE:IP opened at $58.83 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The firm has a market capitalization of $20.44 billion, a P/E ratio of 50.28 and a beta of 1.02. The company’s fifty day moving average price is $52.39 and its 200 day moving average price is $48.08.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.