Raymond James Trust N.A. Purchases 3,902 Shares of International Paper (NYSE:IP)

Raymond James Trust N.A. raised its position in shares of International Paper (NYSE:IP) by 53.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,156 shares of the basic materials company’s stock after acquiring an additional 3,902 shares during the quarter. Raymond James Trust N.A.’s holdings in International Paper were worth $545,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of International Paper in the 2nd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in International Paper during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of International Paper in the 2nd quarter worth $37,000. Eastern Bank purchased a new stake in shares of International Paper in the third quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC purchased a new position in International Paper during the third quarter worth about $42,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of IP opened at $59.56 on Tuesday. International Paper has a 52-week low of $32.51 and a 52-week high of $60.36. The stock’s 50-day simple moving average is $51.65 and its 200 day simple moving average is $47.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 50.91 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Research analysts forecast that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given 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 dividend yield of 3.11%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Activity at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their position. The sale was disclosed in a document filed 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 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 transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,440 shares of company stock valued at $944,540. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IP shares. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Truist Financial restated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada upped their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Argus upgraded 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 research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

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.