International Paper (NYSE:IP) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL boosted its stake in International Paper (NYSE:IP) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,764 shares of the basic materials company’s stock after buying an additional 1,120 shares during the period. Blair William & Co. IL’s holdings in International Paper were worth $3,097,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC grew its position in shares of International Paper by 23.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,676 shares of the basic materials company’s stock worth $1,755,000 after acquiring an additional 7,820 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new position in International Paper during the 2nd quarter valued at about $206,000. Mercer Global Advisors Inc. ADV grew its position in International Paper by 0.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 122,648 shares of the basic materials company’s stock worth $5,292,000 after purchasing an additional 851 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper in the second quarter valued at approximately $119,012,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of International Paper by 90.5% during the second quarter. Brown Brothers Harriman & Co. now owns 21,950 shares of the basic materials company’s stock valued at $947,000 after buying an additional 10,427 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on IP. Truist Financial lifted their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company upped their price objective 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. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Stifel Nicolaus started coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $50.21.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,440 shares of company stock valued at $927,956. 0.55% of the stock is currently owned by corporate insiders.

International Paper Stock Down 2.5 %

IP stock opened at $48.71 on Monday. The firm has a market cap of $16.92 billion, a PE ratio of 99.41 and a beta of 1.04. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $47.00 and a 200 day simple moving average of $42.78.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.80%. International Paper’s payout ratio is presently 377.55%.

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.