XTX Topco Ltd Buys 11,658 Shares of International Paper (NYSE:IP)

XTX Topco Ltd raised its stake in International Paper (NYSE:IP) by 102.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,067 shares of the basic materials company’s stock after purchasing an additional 11,658 shares during the period. XTX Topco Ltd’s holdings in International Paper were worth $995,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of International Paper by 133.7% during the 2nd 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. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after acquiring an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of International Paper during the 2nd quarter worth about $119,012,000. Norges Bank bought a new position in shares of International Paper during the 4th quarter worth about $94,913,000. Finally, Diamond Hill Capital Management Inc. bought a new position in shares of International Paper during the 2nd quarter worth about $81,187,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Down 2.5 %

Shares of NYSE:IP opened at $48.71 on Friday. International Paper has a one year low of $31.76 and a one year high of $50.68. The company has a 50 day moving average of $47.00 and a 200-day moving average of $42.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 99.41 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 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.59 EPS. International Paper’s revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insider Buying and Selling

In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the transaction, the director now directly owns 42,202 shares in the company, valued at approximately $1,843,383.36. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $927,956 in the last 90 days. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial increased their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada increased their target price on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.21.

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.