International Paper (NYSE:IP) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of International Paper (NYSE:IP) by 157.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,245 shares of the basic materials company’s stock after acquiring an additional 136,548 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in International Paper were worth $10,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its stake in shares of International Paper by 36.2% during the first quarter. Clearbridge Investments LLC now owns 95,893 shares of the basic materials company’s stock valued at $3,742,000 after acquiring an additional 25,487 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of International Paper by 2.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 273,600 shares of the basic materials company’s stock valued at $10,674,000 after purchasing an additional 6,959 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of International Paper during the 1st quarter valued at approximately $29,000. CreativeOne Wealth LLC acquired a new stake in shares of International Paper during the first quarter worth approximately $431,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of International Paper in the first quarter worth $210,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on IP. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, 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 note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average price target of $51.54.

Insider Activity

In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. The trade was a 11.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s 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 represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $944,540 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Up 0.8 %

Shares of International Paper stock opened at $59.31 on Friday. The company has a market capitalization of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. 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 1-year low of $32.33 and a 1-year high of $60.22. The business’s fifty day moving average price is $51.24 and its two-hundred day moving average price is $47.13.

International Paper (NYSE:IP) last released its 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. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, research analysts forecast that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.