International Paper Company $IP Shares Newly Bought by North Dakota State Investment Board

North Dakota State Investment Board bought a new stake in International Paper Company (NYSE:IP) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 16,070 shares of the basic materials company’s stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Stephens Inc. AR raised its stake in shares of International Paper by 1.3% during the 1st quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock worth $853,000 after purchasing an additional 298 shares during the period. Rockefeller Capital Management L.P. grew its position in International Paper by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company’s stock valued at $523,000 after buying an additional 302 shares during the period. Ranch Capital Advisors Inc. increased its holdings in International Paper by 0.8% during the first quarter. Ranch Capital Advisors Inc. now owns 45,785 shares of the basic materials company’s stock worth $1,635,000 after buying an additional 364 shares during the last quarter. Arvest Bank Trust Division increased its holdings in International Paper by 1.2% during the first quarter. Arvest Bank Trust Division now owns 41,480 shares of the basic materials company’s stock worth $1,481,000 after buying an additional 509 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in International Paper by 8.8% in the second quarter. GAMMA Investing LLC now owns 6,382 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 517 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Up 0.1%

IP stock opened at $36.40 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.77 and a current ratio of 1.01. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of -5.55, a price-to-earnings-growth ratio of 5.38 and a beta of 0.97. The business’s 50 day moving average price is $34.96 and its two-hundred day moving average price is $37.43. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm posted ($0.43) earnings per share. As a group, analysts forecast that International Paper Company will post 1.13 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s payout ratio is -28.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Seaport Research Partners restated a “buy” rating and issued a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Royal Bank Of Canada upped their price objective 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. Bank of America reaffirmed a “buy” rating on shares of International Paper in a report on Thursday. Finally, Citigroup dropped their price objective on International Paper from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus target price of $45.44.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Hamic sold 24,500 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.