WINTON GROUP Ltd Takes $1.20 Million Position in International Paper Company $IP

Key Points

• WINTON GROUP Ltd acquired 31,556 shares of International Paper during the second quarter, worth approximately $1.2 million. Institutional investors own 81.95% of the company.
• International Paper reported quarterly EPS of $0.04, beating estimates by $0.08, but revenue fell 11.3% year over year to $6 billion and the company posted a negative net margin.
• The company declared a quarterly dividend of $0.4625 per share, representing an annualized dividend of $1.85 and a 5.4% yield. Analysts maintain a “Moderate Buy” consensus rating with a $49.13 average price target.

WINTON GROUP Ltd acquired a new position in International Paper Company (NYSE:IP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,556 shares of the basic materials company's stock, valued at approximately $1,202,000.

Several other hedge funds have also bought and sold shares of IP. MV Capital Management Inc. bought a new position in shares of International Paper in the 4th quarter worth $25,000. Aberdeen Wealth Management LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at $27,000. DV Equities LLC bought a new stake in shares of International Paper during the 4th quarter worth $29,000. Ascentis Independent Advisors bought a new stake in shares of International Paper during the 1st quarter worth $28,000. Finally, Kelleher Financial Advisors purchased a new position in International Paper in the third quarter worth $36,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

Shares of International Paper stock opened at $34.41 on Monday. The company's fifty day simple moving average is $39.21 and its two-hundred day simple moving average is $36.91. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25. The firm has a market cap of $18.22 billion, a PE ratio of -5.28, a price-to-earnings-growth ratio of 4.32 and a beta of 0.93. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company's quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 earnings per share. As a group, equities analysts expect that International Paper Company will post 1.33 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 5.4%. International Paper's dividend payout ratio is presently -28.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. Wall Street Zen cut International Paper from a "hold" rating to a "sell" rating in a report on Tuesday, August 25th. Truist Financial reiterated a "buy" rating and set a $49.00 price objective (up from $46.00) on shares of International Paper in a research report on Friday, July 31st. Citigroup raised their price objective on International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada boosted their target price on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.13.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on 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 completion of the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

International Paper Profile

International Paper Company NYSE: IP is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.

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