GAMMA Investing LLC Acquires 2,127 Shares of International Paper (NYSE:IP)

GAMMA Investing LLC lifted its stake in International Paper (NYSE:IP) by 71.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,098 shares of the basic materials company’s stock after purchasing an additional 2,127 shares during the period. GAMMA Investing LLC’s holdings in International Paper were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IP. Brooklyn Investment Group acquired a new position in shares of International Paper during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in International Paper during the 3rd quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the period. Finally, Eastern Bank bought a new stake in International Paper in the third quarter valued at approximately $40,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 2,400 shares of company stock worth $129,696 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Price Performance

Shares of IP opened at $53.59 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock has a market capitalization of $18.62 billion, a P/E ratio of 45.80 and a beta of 1.03. The company has a 50 day moving average of $56.16 and a 200-day moving average of $50.10.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.45%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial lifted their price objective on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.99.

About International Paper

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.