CTC Alternative Strategies Ltd. Buys Shares of 26,076 International Paper (NYSE:IP)

CTC Alternative Strategies Ltd. acquired a new stake in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,076 shares of the basic materials company's stock, valued at approximately $1,403,000. International Paper makes up about 1.7% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in International Paper in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the fourth quarter worth $26,000. Picton Mahoney Asset Management lifted its stake in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after buying an additional 215 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after buying an additional 295 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of International Paper in the fourth quarter worth $37,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IP. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective for the company. Truist Financial dropped their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price on the stock. Finally, Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They set a "neutral" rating on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper has a consensus rating of "Hold" and an average target price of $53.86.

International Paper Stock Performance

International Paper stock traded up $0.13 on Thursday, hitting $47.85. The company's stock had a trading volume of 897,214 shares, compared to its average volume of 7,690,462. The firm has a market cap of $25.26 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $48.27 and a 200-day moving average price of $52.99. International Paper has a one year low of $41.50 and a one year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the business posted $0.17 earnings per share. The firm's revenue was up 27.8% compared to the same quarter last year. On average, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.87%. International Paper's dividend payout ratio is presently 158.12%.

Insider Activity

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

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.