Oak Thistle LLC Purchases Shares of 6,215 International Paper (NYSE:IP)

Oak Thistle LLC purchased a new stake in International Paper (NYSE:IP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,215 shares of the basic materials company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also made changes to their positions in IP. Jones Financial Companies Lllp boosted its holdings in shares of International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares in the last quarter. Innealta Capital LLC bought a new position in shares of International Paper in the second quarter valued at approximately $26,000. MCF Advisors LLC boosted its holdings in shares of International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of International Paper in the first quarter valued at approximately $29,000. Finally, Assetmark Inc. boosted its holdings in shares of International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 649 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IP. Truist Financial increased their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Wells Fargo & Company raised their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Down 1.1 %

International Paper stock opened at $47.07 on Wednesday. The company has a 50 day moving average price of $46.07 and a 200 day moving average price of $42.00. International Paper has a 52 week low of $31.76 and a 52 week high of $49.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The firm has a market capitalization of $16.35 billion, a price-to-earnings ratio of 96.06 and a beta of 1.04.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts forecast that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on 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 sale, the director now directly owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock valued at $809,922 in the last quarter. 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.