Jupiter Topco LLC Acquires Shares of 116,720 International Paper Company $IP

Jupiter Topco LLC acquired a new stake in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 116,720 shares of the basic materials company’s stock, valued at approximately $4,445,000.

Other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in International Paper during the 1st quarter valued at approximately $249,000. Intech Investment Management LLC grew its position in shares of International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of International Paper by 20.8% during the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after buying an additional 2,981 shares during the period. Jump Financial LLC increased its stake in shares of International Paper by 280.9% during the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 28,092 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of International Paper by 8.0% during the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock valued at $1,580,000 after acquiring an additional 2,493 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup upped their price objective on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company raised their target price on shares of International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Finally, Truist Financial reiterated a “buy” rating and set a $49.00 price target (up from $46.00) on shares of International Paper in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Stock Performance

Shares of IP stock opened at $37.96 on Tuesday. The company’s fifty day moving average price is $39.64 and its 200-day moving average price is $37.67. The stock has a market cap of $20.10 billion, a PE ratio of -5.82 and a beta of 0.94. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business earned $0.20 EPS. International Paper’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities analysts expect that International Paper Company will post 1.34 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.9%. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.