Blue Trust Inc. Buys 3,865 Shares of International Paper (NYSE:IP)

Blue Trust Inc. boosted its stake in International Paper (NYSE:IP) by 240.7% in the third quarter, Holdings Channel reports. The firm owned 5,471 shares of the basic materials company’s stock after purchasing an additional 3,865 shares during the quarter. Blue Trust Inc.’s holdings in International Paper were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IP. Massmutual Trust Co. FSB ADV boosted its holdings in shares of International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares during the last quarter. Altrius Capital Management Inc boosted its stake in International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after buying an additional 296 shares in the last quarter. 180 Wealth Advisors LLC grew its position in International Paper by 4.2% in the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 318 shares during the last quarter. Finally, Ranch Capital Advisors Inc. raised its stake in International Paper by 1.0% during the second quarter. Ranch Capital Advisors Inc. now owns 35,405 shares of the basic materials company’s stock worth $1,528,000 after acquiring an additional 345 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IP shares. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Truist Financial raised their target price on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus initiated coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the transaction, the director now owns 41,602 shares in the company, valued at approximately $1,924,508.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the sale, the director now owns 41,602 shares in the company, valued at $1,924,508.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $934,142 over the last ninety days. Insiders own 0.55% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $48.64 on Friday. The firm has a market cap of $16.89 billion, a PE ratio of 99.27 and a beta of 1.04. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The firm’s fifty day moving average is $48.10 and its 200-day moving average is $44.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. The firm had revenue of $4.73 billion for 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 business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. Sell-side analysts predict that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is currently 377.55%.

About International Paper

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.