Aigen Investment Management LP Buys New Shares in International Paper (NYSE:IP)

Aigen Investment Management LP purchased a new stake in shares of International Paper (NYSE:IP) in the 3rd quarter, Holdings Channel reports. The fund purchased 11,238 shares of the basic materials company’s stock, valued at approximately $549,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at approximately $28,000. Innealta Capital LLC bought a new position in shares of International Paper in the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in shares of International Paper during the 1st quarter worth about $29,000. Eastern Bank acquired a new position in shares of International Paper during the 3rd quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of International Paper in the 3rd quarter valued at about $42,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

International Paper stock opened at $56.38 on Thursday. The stock has a market cap of $19.59 billion, a PE ratio of 48.19 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The business’s 50-day moving average price is $49.78 and its two-hundred day moving average price is $46.20.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts expect that International Paper will post 1.24 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IP. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Argus raised 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. Truist Financial reaffirmed a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.54.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock worth $910,826 in the last 90 days. Insiders own 0.55% of the company’s stock.

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.