Quantbot Technologies LP Makes New Investment in International Paper Company $IP

Key Points

• Quantbot Technologies LP initiated a new International Paper position, purchasing 125,746 shares valued at approximately $4.79 million. Institutional investors collectively own 81.95% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $48.75, above the reported share price of $41.53.
• International Paper exceeded quarterly EPS expectations, reporting $0.04 versus the projected loss of $0.04, although revenue fell 11.3% year over year to $6 billion. The company also declared a quarterly dividend of $0.4625 per share, representing a 4.5% annualized yield.

Quantbot Technologies LP purchased a new position in International Paper Company (NYSE:IP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 125,746 shares of the basic materials company's stock, valued at approximately $4,791,000.

Several other hedge funds also recently made changes to their positions in the stock. McIlrath & Eck LLC lifted its holdings in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock worth $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. purchased a new position in International Paper during the 4th quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in shares of International Paper during the first quarter valued at about $28,000. DV Equities LLC bought a new stake in shares of International Paper during the fourth quarter valued at about $29,000. Finally, Summit Securities Group LLC lifted its holdings in shares of International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company's stock worth $31,000 after buying an additional 5,875 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares in the company, valued at $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the transaction, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research upgraded shares of International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Citigroup increased their target price on shares of International Paper from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Seaport Research Partners reissued a "buy" rating and issued a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. Loop Capital set a $61.00 price target on shares of International Paper in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their price target on shares of International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.75.

International Paper Price Performance

IP opened at $41.53 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. The stock has a 50-day moving average price of $39.21 and a 200-day moving average price of $37.92. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter last year, the company earned $0.20 EPS. The firm's revenue was down 11.3% compared to the same quarter last year. Equities analysts predict that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.5%. International Paper's dividend payout ratio is -28.37%.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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