Clarius Group LLC Makes New $210,000 Investment in International Paper (NYSE:IP)

Clarius Group LLC acquired a new position in shares of International Paper (NYSE:IP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,302 shares of the basic materials company’s stock, valued at approximately $210,000.

A number of other hedge funds have also modified their holdings of IP. Bank of New York Mellon Corp grew its position in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after acquiring an additional 5,492,035 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of International Paper during the second quarter worth approximately $119,012,000. Samlyn Capital LLC purchased a new position in shares of International Paper during the second quarter worth approximately $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of International Paper during the second quarter worth approximately $81,187,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the completion of the transaction, the director now owns 39,545 shares of the company’s stock, valued at $1,925,050.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the completion of the transaction, the director now owns 39,545 shares of the company’s stock, valued at $1,925,050.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $931,502 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IP. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Finally, Truist Financial lifted their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Price Performance

International Paper stock opened at $48.19 on Friday. International Paper has a one year low of $31.76 and a one year high of $50.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The business has a fifty day moving average of $47.66 and a two-hundred day moving average of $43.87. The company has a market cap of $16.74 billion, a P/E ratio of 39.50 and a beta of 1.04.

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

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.