UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $97.69 Million Holdings in International Paper (NYSE:IP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in International Paper (NYSE:IP) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,999,719 shares of the basic materials company’s stock after buying an additional 42,151 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.58% of International Paper worth $97,686,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IP. FMR LLC increased its position in International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Paper by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after purchasing an additional 537,825 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,440 shares of company stock worth $505,070. 0.55% of the stock is currently owned by insiders.

International Paper Trading Up 0.8 %

Shares of IP stock opened at $58.83 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a fifty day moving average price of $52.39 and a 200-day moving average price of $48.08. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 50.28 and a beta of 1.02. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the firm posted $0.64 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that International Paper will post 1.22 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. Stockholders of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.14%. International Paper’s payout ratio is 158.12%.

Analyst Upgrades and Downgrades

A number of research firms have commented on IP. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $61.00 target price (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 price target 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.