FORA Capital LLC Buys New Position in International Paper Company $IP

FORA Capital LLC purchased a new stake in International Paper Company (NYSE:IP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 74,450 shares of the basic materials company’s stock, valued at approximately $3,486,000.

Several other large investors have also bought and sold shares of the stock. Rise Advisors LLC grew its stake in shares of International Paper by 281.3% in the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 346 shares in the last quarter. AlphaQuest LLC grew its position in International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in International Paper in the 2nd quarter worth about $33,000. Elevation Point Wealth Partners LLC purchased a new stake in International Paper in the 2nd quarter valued at about $35,000. Finally, Quintet Private Bank Europe S.A. bought a new position in shares of International Paper during the 2nd quarter worth approximately $37,000. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IP shares. Jefferies Financial Group decreased their price target on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, BNP Paribas raised shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Monday, November 24th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.44.

International Paper Trading Down 1.2%

Shares of IP opened at $38.57 on Friday. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $60.15. The business has a 50-day moving average of $41.24 and a 200 day moving average of $45.84. The firm has a market cap of $20.37 billion, a P/E ratio of -14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.International Paper’s revenue for the quarter was up 56.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.8%. International Paper’s dividend payout ratio is -70.88%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by insiders.

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.