International Paper (NYSE:IP) Holdings Lifted by Diversified Trust Co

Diversified Trust Co increased its stake in International Paper (NYSE:IP) by 51.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,255 shares of the basic materials company’s stock after acquiring an additional 12,646 shares during the period. Diversified Trust Co’s holdings in International Paper were worth $1,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the period. Greenhaven Associates Inc. increased its position in shares of International Paper by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after acquiring an additional 25,640 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of International Paper by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after acquiring an additional 35,930 shares during the period. Norges Bank purchased a new stake in shares of International Paper in the 4th quarter valued at approximately $94,913,000. Finally, ING Groep NV lifted its position in shares of International Paper by 74.2% in the 4th quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock valued at $29,952,000 after acquiring an additional 352,934 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

NYSE:IP traded down $0.33 during midday trading on Monday, reaching $42.82. The stock had a trading volume of 2,773,652 shares, compared to its average volume of 5,763,819. International Paper has a 1-year low of $30.78 and a 1-year high of $47.40. The firm’s fifty day simple moving average is $41.76 and its 200-day simple moving average is $38.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The stock has a market capitalization of $14.87 billion, a P/E ratio of 87.76 and a beta of 1.06.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the company earned $0.53 earnings per share. International Paper’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 1.86 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Analysts Set New Price Targets

IP has been the subject of several research analyst reports. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $52.00 price target on shares of International Paper in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their price objective for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.71.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now directly owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 3,000 shares of company stock valued at $121,392. Company insiders own 0.55% of the company’s stock.

International Paper 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.