Greenleaf Trust Acquires 1,009 Shares of International Paper (NYSE:IP)

Greenleaf Trust lifted its holdings in shares of International Paper (NYSE:IP) by 13.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,452 shares of the basic materials company’s stock after purchasing an additional 1,009 shares during the period. Greenleaf Trust’s holdings in International Paper were worth $413,000 at the end of the most recent reporting period.

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

International Paper Stock Down 0.1 %

International Paper stock opened at $48.57 on Friday. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 39.81 and a beta of 1.04. The company’s 50 day simple moving average is $48.13 and its 200 day simple moving average is $44.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that International Paper will post 1.53 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced 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 3.81%. International Paper’s payout ratio is 151.64%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other International Paper 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 completion of the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 completion of the sale, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock worth $934,142 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

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.