Apollon Wealth Management LLC Raises Holdings in International Paper (NYSE:IP)

Apollon Wealth Management LLC raised its holdings in International Paper (NYSE:IP) by 16.1% during the third quarter, Holdings Channel.com reports. The firm owned 9,643 shares of the basic materials company’s stock after purchasing an additional 1,334 shares during the period. Apollon Wealth Management LLC’s holdings in International Paper were worth $471,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after buying an additional 5,492,035 shares during the period. Bank of New York Mellon Corp raised its stake in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after acquiring an additional 8,132,332 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of International Paper during the 2nd quarter worth approximately $119,012,000. Finally, Samlyn Capital LLC acquired a new stake in International Paper in the 2nd quarter valued at approximately $88,966,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday. Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average target price of $51.54.

Insider Activity at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were 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 trade was a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,840 shares of company stock valued at $910,826 over the last three months. 0.55% of the stock is owned by corporate insiders.

International Paper Stock Up 2.0 %

Shares of International Paper stock opened at $57.58 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The company has a market capitalization of $20.00 billion, a P/E ratio of 49.21 and a beta of 1.02. The company has a 50 day moving average of $50.36 and a 200 day moving average of $46.50.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.