Cinctive Capital Management LP Sells 17,292 Shares of International Paper (NYSE:IP)

Cinctive Capital Management LP decreased its position in shares of International Paper (NYSE:IP) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,547 shares of the basic materials company’s stock after selling 17,292 shares during the period. Cinctive Capital Management LP owned 0.06% of International Paper worth $9,406,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of International Paper during the 3rd quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of International Paper during the second quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of International Paper in the second quarter worth $37,000. Finally, Eastern Bank bought a new position in International Paper during the third quarter worth $40,000. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on IP shares. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,440 shares of company stock worth $505,070. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

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

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

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.