International Paper Company $IP Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of International Paper Company (NYSE:IP) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,340,382 shares of the basic materials company’s stock after buying an additional 294,296 shares during the period. Geode Capital Management LLC owned 2.53% of International Paper worth $622,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after buying an additional 1,592,411 shares in the last quarter. Consolidated Planning Corp purchased a new position in shares of International Paper during the second quarter worth about $317,000. Whalen Wealth Management Inc. acquired a new stake in shares of International Paper during the second quarter worth about $604,000. MBB Public Markets I LLC acquired a new stake in shares of International Paper during the first quarter worth about $313,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of International Paper by 78.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company’s stock valued at $259,310,000 after purchasing an additional 2,143,027 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of IP opened at $37.34 on Friday. The stock has a market capitalization of $19.72 billion, a P/E ratio of -373.40, a P/E/G ratio of 0.54 and a beta of 1.12. The company’s fifty day moving average is $44.48 and its two-hundred day moving average is $47.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a 1 year low of $35.79 and a 1 year high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company’s revenue was up 56.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. On average, sell-side analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.0%. International Paper’s dividend payout ratio is currently -70.88%.

Analyst Upgrades and Downgrades

IP has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of International Paper in a research report on Tuesday. Truist Financial lowered their target price on shares of International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Seaport Res Ptn downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. BNP Paribas Exane decreased their price target on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.92.

International Paper Company 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.