TrinityBridge Ltd Acquires New Position in International Paper Company $IP

Key Points

• TrinityBridge Ltd opened a new position in International Paper during the third quarter, buying 29,957 shares valued at approximately $994,000. Institutional investors collectively own 81.95% of the company’s stock.
• International Paper reported quarterly EPS of $0.37, beating the $0.29 consensus estimate, while revenue of $6.20 billion fell short of forecasts and declined 0.4% year over year.
• The company declared a quarterly dividend of $0.4625 per share, equivalent to an annualized yield of 5.3%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $45.44.

TrinityBridge Ltd bought a new position in shares of International Paper Company (NYSE:IP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,957 shares of the basic materials company's stock, valued at approximately $994,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aberdeen Wealth Management LLC acquired a new stake in shares of International Paper during the second quarter worth $27,000. Salomon & Ludwin LLC acquired a new position in International Paper in the third quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in International Paper in the first quarter valued at $28,000. Delta Asset Management LLC TN acquired a new position in International Paper in the second quarter valued at $31,000. Finally, Essential Investment Partners LLC purchased a new position in International Paper during the third quarter worth about $27,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Down 4.1%

IP stock opened at $35.14 on Wednesday. The company has a market cap of $18.61 billion, a price-to-earnings ratio of -5.36, a PEG ratio of 5.42 and a beta of 0.97. The company has a quick ratio of 0.77, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $34.74 and a 200-day simple moving average of $37.36. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the company posted ($0.43) EPS. The business's quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that International Paper Company will post 1.13 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, November 16th. This represents a $1.85 annualized dividend and a yield of 5.3%. International Paper's dividend payout ratio is currently -28.20%.

Insider Buying and Selling

In other news, VP William Hamic sold 24,500 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on IP shares. UBS Group decreased their price target on International Paper from $47.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. Truist Financial reaffirmed a "buy" rating and set a $39.00 price objective (down from $41.00) on shares of International Paper in a research note on Thursday, October 29th. JPMorgan Chase & Co. dropped their price objective on shares of International Paper from $62.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, October 29th. Citigroup cut their price objective on shares of International Paper from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Finally, Seaport Research Partners reissued a "buy" rating and issued a $46.00 target price on shares of International Paper in a research report on Wednesday, August 12th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $45.44.

International Paper Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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