Versant Capital Management Inc Acquires 448 Shares of International Paper (NYSE:IP)

Versant Capital Management Inc lifted its holdings in International Paper (NYSE:IP) by 313.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 591 shares of the basic materials company’s stock after acquiring an additional 448 shares during the period. Versant Capital Management Inc’s holdings in International Paper were worth $32,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of International Paper in the 2nd quarter valued at $119,012,000. Point72 Asset Management L.P. increased its stake in shares of 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 purchasing an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Finally, Samlyn Capital LLC bought a new stake in shares of International Paper during the 2nd quarter worth $88,966,000. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 2,400 shares of company stock valued at $129,696 in the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper Trading Up 0.2 %

NYSE IP opened at $53.59 on Wednesday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. 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 has a market capitalization of $18.62 billion, a PE ratio of 45.80 and a beta of 1.03. The business’s 50-day moving average price is $56.16 and its two-hundred day moving average price is $50.10.

International Paper (NYSE:IP) last announced 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 business had revenue of $4.69 billion for 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%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. On average, analysts expect that International Paper will post 1.18 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, November 15th. International Paper’s payout ratio is 158.12%.

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.