Raymond James & Associates Increases Position in International Paper (NYSE:IP)

Raymond James & Associates increased its position in shares of International Paper (NYSE:IP) by 29.6% during the third quarter, Holdings Channel reports. The fund owned 321,468 shares of the basic materials company’s stock after acquiring an additional 73,367 shares during the quarter. Raymond James & Associates’ holdings in International Paper were worth $15,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of International Paper by 12.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 144,721 shares of the basic materials company’s stock valued at $5,647,000 after purchasing an additional 15,667 shares during the last quarter. MCF Advisors LLC grew its stake in shares of International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares during the period. Diversified Trust Co increased its holdings in shares of International Paper by 51.4% during the 1st quarter. Diversified Trust Co now owns 37,255 shares of the basic materials company’s stock worth $1,454,000 after buying an additional 12,646 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of International Paper by 10.4% during the 1st quarter. AlphaMark Advisors LLC now owns 3,718 shares of the basic materials company’s stock worth $145,000 after buying an additional 351 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Down 0.1 %

Shares of International Paper stock opened at $48.57 on Friday. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The company has a market capitalization of $16.87 billion, a PE ratio of 39.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The business has a 50-day moving average of $48.16 and a 200-day moving average of $44.45.

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

International Paper Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.81%. International Paper’s dividend payout ratio (DPR) is presently 151.64%.

Insider Activity at International Paper

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 transaction, the director now owns 41,002 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. In related news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on 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 directly owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $934,142 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

IP has been the subject of a number of research reports. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. Stifel Nicolaus began coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target on the stock. Truist Financial increased their price objective on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $50.46.

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.