Profund Advisors LLC Buys 182 Shares of International Paper (NYSE:IP)

Profund Advisors LLC lifted its holdings in International Paper (NYSE:IP) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,362 shares of the basic materials company’s stock after acquiring an additional 182 shares during the period. Profund Advisors LLC’s holdings in International Paper were worth $330,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Flputnam Investment Management Co. lifted its holdings in shares of International Paper by 1.6% in the 1st quarter. Flputnam Investment Management Co. now owns 10,832 shares of the basic materials company’s stock valued at $586,000 after acquiring an additional 175 shares during the last quarter. Holderness Investments Co. lifted its holdings in shares of International Paper by 1.0% in the 2nd quarter. Holderness Investments Co. now owns 18,666 shares of the basic materials company’s stock valued at $1,144,000 after acquiring an additional 180 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of International Paper by 4.1% in the 2nd quarter. Fifth Third Bancorp now owns 4,944 shares of the basic materials company’s stock valued at $303,000 after acquiring an additional 194 shares during the last quarter. Intrua Financial LLC lifted its holdings in shares of International Paper by 3.1% in the 2nd quarter. Intrua Financial LLC now owns 6,516 shares of the basic materials company’s stock valued at $391,000 after acquiring an additional 198 shares during the last quarter. Finally, Fundamentun LLC lifted its holdings in shares of International Paper by 4.5% in the 2nd quarter. Fundamentun LLC now owns 4,957 shares of the basic materials company’s stock valued at $304,000 after acquiring an additional 215 shares during the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.

In other International Paper news, SVP Jeanmichel Ribieras sold 4,417 shares of the firm’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $57.75, for a total value of $255,081.75. Following the completion of the sale, the senior vice president now directly owns 61,333 shares in the company, valued at $3,541,980.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Shares of IP stock opened at $55.28 on Thursday. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 19.19 and a beta of 1.05. The company’s 50 day moving average is $57.69 and its 200 day moving average is $59.10. The company has a quick ratio of 1.20, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. International Paper has a 52-week low of $42.48 and a 52-week high of $65.27.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 29th. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. The company had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.60 billion. International Paper had a net margin of 5.33% and a return on equity of 16.67%. Analysts anticipate that International Paper will post 4.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Monday, November 15th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 7.24%. This is an increase from International Paper’s previous quarterly dividend of $0.51. International Paper’s dividend payout ratio (DPR) is 73.21%.

Several analysts have issued reports on the stock. Truist Securities assumed coverage on shares of International Paper in a research note on Wednesday. They issued a “hold” rating and a $50.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of International Paper from $85.00 to $78.00 and set an “overweight” rating for the company in a research note on Friday, October 8th. UBS Group raised their price objective on shares of International Paper from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Tuesday, September 28th. Zacks Investment Research downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a research note on Monday, July 19th. Finally, Truist assumed coverage on shares of International Paper in a research note on Wednesday. They issued a “hold” rating and a $50.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, International Paper has an average rating of “Hold” and a consensus target price of $63.42.

International Paper Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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