National Bank of Canada FI Has $12.04 Million Stock Position in International Paper (NYSE:IP)

National Bank of Canada FI raised its holdings in International Paper (NYSE:IP) by 47.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,434 shares of the basic materials company’s stock after buying an additional 79,413 shares during the period. National Bank of Canada FI owned about 0.07% of International Paper worth $12,038,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the period. Bank of New York Mellon Corp raised its position in shares of International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of International Paper during the 2nd quarter worth about $119,012,000. Point72 Asset Management L.P. grew its stake in International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in International Paper by 125.1% in the 3rd 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 acquiring an additional 2,354,341 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE IP opened at $54.76 on Wednesday. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 46.80 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm’s 50 day simple moving average is $53.43 and its 200 day simple moving average is $48.74.

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

International Paper Announces Dividend

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 $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.38%. International Paper’s payout ratio is currently 158.12%.

Insider Activity at International Paper

In related news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. The trade was a 11.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $48.68, for a total value of $29,208.00. Following the sale, the director now directly owns 39,545 shares in the company, valued at $1,925,050.60. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,040 shares of company stock valued at $304,004. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IP. Truist Financial restated a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

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.