International Paper Company (IP) Shares Bought by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC lifted its holdings in shares of International Paper Company (NYSE:IP) by 268.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,080 shares of the basic materials company’s stock after acquiring an additional 33,562 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in International Paper were worth $2,618,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of IP. Quadrant Capital Group LLC increased its position in International Paper by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after buying an additional 47 shares during the last quarter. Rational Advisors LLC purchased a new stake in International Paper in the third quarter worth $108,000. Ffcm LLC increased its position in International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares during the last quarter. Amica Retiree Medical Trust purchased a new stake in International Paper in the third quarter worth $128,000. Finally, Krilogy Financial LLC increased its position in International Paper by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after buying an additional 210 shares during the last quarter. 81.98% of the stock is owned by institutional investors.
International Paper Company (NYSE:IP) traded down $0.15 during trading on Thursday, hitting $56.48. The stock had a trading volume of 1,592,300 shares, compared to its average volume of 2,317,881. International Paper Company has a 52-week low of $49.60 and a 52-week high of $58.96. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $23,320.00, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.70 and a beta of 1.46.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.475 dividend. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 87.56%.
A number of analysts have issued reports on the company. BMO Capital Markets reissued a “buy” rating and issued a $62.00 target price on shares of International Paper in a research report on Friday, November 24th. ValuEngine downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Barclays raised their target price on International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Monday, October 30th. Finally, Credit Suisse Group raised their target price on International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $61.73.
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About International Paper
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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