Wellington Management Group LLP Makes New Investment in International Paper (NYSE:IP)

Wellington Management Group LLP acquired a new stake in shares of International Paper (NYSE:IP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 290,530 shares of the basic materials company’s stock, valued at approximately $14,192,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in International Paper during the 3rd quarter valued at about $25,000. Innealta Capital LLC bought a new position in shares of International Paper in the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper during the third quarter valued at approximately $28,000. Eastern Bank bought a new stake in International Paper during the third quarter worth $40,000. Finally, Abich Financial Wealth Management LLC bought a new position in International Paper during the 3rd quarter valued at $42,000. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $55.54 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $53.95 and a two-hundred day simple moving average of $48.99. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 47.47 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The company 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 firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Analysts anticipate that International Paper will post 1.18 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is currently 158.12%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the sale, the director now owns 39,545 shares of the company’s stock, valued at approximately $1,925,050.60. This represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 3,600 shares of company stock worth $188,592. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, 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 report on Wednesday, November 13th. One 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.54.

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.