Samlyn Capital LLC Acquires Shares of 2,061,780 International Paper (NYSE:IP)

Samlyn Capital LLC acquired a new stake in International Paper (NYSE:IP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,061,780 shares of the basic materials company’s stock, valued at approximately $88,966,000. International Paper makes up approximately 1.5% of Samlyn Capital LLC’s portfolio, making the stock its 24th biggest holding. Samlyn Capital LLC owned about 0.59% of International Paper as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Jones Financial Companies Lllp boosted its stake in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the last quarter. Innealta Capital LLC bought a new position in shares of International Paper in the 2nd quarter valued at about $26,000. MCF Advisors LLC boosted its stake in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of International Paper in the 1st quarter valued at about $29,000. Finally, Assetmark Inc. boosted its stake in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Royal Bank of Canada lifted their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, Truist Financial lifted their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the transaction, the director now directly owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now directly owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,440 shares of company stock worth $927,956. Insiders own 0.55% of the company’s stock.

International Paper Price Performance

NYSE IP opened at $48.42 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68. The company has a market capitalization of $16.82 billion, a PE ratio of 98.82 and a beta of 1.04. The firm’s 50 day moving average is $47.09 and its 200-day moving average is $42.87.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company 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 revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. Equities research analysts anticipate that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.82%. International Paper’s payout ratio is 377.55%.

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.