Tableaux LLC Takes Position in International Paper Company $IP

Tableaux LLC bought a new position in shares of International Paper Company (NYSE:IP) during the second quarter, Holdings Channel.com reports. The fund bought 50,000 shares of the basic materials company’s stock, valued at approximately $2,342,000.

Several other hedge funds have also recently added to or reduced their stakes in IP. Rise Advisors LLC lifted its stake in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 346 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of International Paper during the 2nd quarter worth $33,000. Zions Bancorporation National Association UT acquired a new position in shares of International Paper during the first quarter worth $34,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in International Paper in the second quarter valued at $37,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity

In related news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on IP shares. Wells Fargo & Company decreased their price target on International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, October 31st. Jefferies Financial Group cut their target price on International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Truist Financial lowered their price target on International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a report on Monday, October 13th. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Finally, BNP Paribas Exane reduced their price objective on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.92.

International Paper Stock Performance

Shares of IP opened at $37.65 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $19.88 billion, a PE ratio of -376.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. The company’s 50 day simple moving average is $43.48 and its 200-day simple moving average is $46.79. International Paper Company has a 12-month low of $35.56 and a 12-month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm’s revenue for the quarter was up 56.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. As a group, equities analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s dividend payout ratio (DPR) is -70.88%.

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.