Clearline Capital LP Invests $4.56 Million in International Paper (NYSE:IP)

Clearline Capital LP acquired a new stake in shares of International Paper (NYSE:IP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 105,717 shares of the basic materials company’s stock, valued at approximately $4,562,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its stake in shares of International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the period. Innealta Capital LLC bought a new stake in shares of International Paper during the 2nd quarter valued at $26,000. MCF Advisors LLC increased its stake in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Crewe Advisors LLC bought a new position in International Paper in the 1st quarter worth $29,000. Finally, Assetmark Inc. increased its position in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the completion of the transaction, the director now owns 41,602 shares of the company’s stock, valued at $1,924,508.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,840 shares of company stock worth $902,294. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IP has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. Stifel Nicolaus assumed coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Truist Financial increased their price target on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

International Paper Stock Performance

Shares of NYSE IP opened at $49.04 on Friday. The firm’s fifty day moving average is $47.33 and its two-hundred day moving average is $43.17. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The company has a market cap of $17.03 billion, a P/E ratio of 100.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59.

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

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.77%. International Paper’s dividend payout ratio is presently 377.55%.

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.