Farther Finance Advisors LLC Acquires 3,461 Shares of International Paper (NYSE:IP)

Farther Finance Advisors LLC grew its stake in shares of International Paper (NYSE:IP) by 101.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,857 shares of the basic materials company’s stock after buying an additional 3,461 shares during the period. Farther Finance Advisors LLC’s holdings in International Paper were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in IP. Capital Advisors Inc. OK boosted its stake in International Paper by 2.2% in the 3rd quarter. Capital Advisors Inc. OK now owns 26,327 shares of the basic materials company’s stock worth $1,286,000 after purchasing an additional 557 shares during the period. Stephens Inc. AR boosted its position in shares of International Paper by 0.7% in the third quarter. Stephens Inc. AR now owns 46,282 shares of the basic materials company’s stock valued at $2,261,000 after acquiring an additional 333 shares during the period. US Bancorp DE grew its stake in International Paper by 0.5% during the third quarter. US Bancorp DE now owns 89,137 shares of the basic materials company’s stock valued at $4,354,000 after acquiring an additional 436 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in International Paper by 22.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,280 shares of the basic materials company’s stock worth $453,000 after acquiring an additional 1,687 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in International Paper by 4.5% in the 3rd quarter. New York State Teachers Retirement System now owns 308,642 shares of the basic materials company’s stock worth $15,077,000 after purchasing an additional 13,395 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock worth $938,486. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IP shares. Wells Fargo & Company lifted their price objective 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. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.96.

International Paper Trading Down 0.7 %

Shares of IP opened at $58.41 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The firm has a 50 day moving average price of $49.02 and a 200-day moving average price of $45.46. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 49.92 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that International Paper will post 1.44 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.17%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

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.