XTX Topco Ltd Buys 11,658 Shares of International Paper (NYSE:IP)

XTX Topco Ltd raised its stake in International Paper (NYSE:IP) by 102.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,067 shares of the basic materials company’s stock after buying an additional 11,658 shares during the quarter. XTX Topco Ltd’s holdings in International Paper were worth $995,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Garner Asset Management Corp lifted its position in shares of International Paper by 2.4% in the second quarter. Garner Asset Management Corp now owns 86,416 shares of the basic materials company’s stock worth $3,729,000 after purchasing an additional 1,994 shares in the last quarter. Altrius Capital Management Inc lifted its position in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares in the last quarter. Blair William & Co. IL lifted its position in shares of International Paper by 1.6% in the second quarter. Blair William & Co. IL now owns 71,764 shares of the basic materials company’s stock worth $3,097,000 after purchasing an additional 1,120 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of International Paper by 23.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,676 shares of the basic materials company’s stock worth $1,755,000 after purchasing an additional 7,820 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of International Paper in the second quarter worth $206,000. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $42.77, for a total transaction of $25,662.00. Following the sale, the director now directly owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock valued at $927,956. 0.55% of the stock is owned by company insiders.

International Paper Price Performance

NYSE:IP opened at $48.71 on Friday. International Paper has a one year low of $31.76 and a one year high of $50.68. The company has a market cap of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04. The firm’s fifty day moving average price is $47.00 and its two-hundred day moving average price is $42.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts expect that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s payout ratio is presently 377.55%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IP. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Truist Financial boosted their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Wells Fargo & Company boosted their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average target price of $50.21.

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.