Versant Capital Management Inc Acquires 448 Shares of International Paper (NYSE:IP)

Versant Capital Management Inc lifted its holdings in shares of International Paper (NYSE:IP) by 313.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 591 shares of the basic materials company’s stock after acquiring an additional 448 shares during the period. Versant Capital Management Inc’s holdings in International Paper were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IP. First Horizon Advisors Inc. grew its holdings in shares of International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares in the last quarter. Empirical Finance LLC boosted its position in International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the period. Altrius Capital Management Inc increased its position in shares of International Paper by 0.3% during the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after purchasing an additional 296 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in shares of International Paper by 5.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $53.59 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The stock has a market cap of $18.62 billion, a PE ratio of 45.80 and a beta of 1.03. The stock has a fifty day moving average of $56.16 and a 200-day moving average of $50.10.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities research analysts anticipate that International Paper will post 1.18 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.45%. International Paper’s payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $51.99.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the transaction, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 2,400 shares of company stock worth $129,696. Corporate insiders own 0.55% of the company’s stock.

About International Paper

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.