International Assets Investment Management LLC Has $20.43 Million Position in International Paper (NYSE:IP)

International Assets Investment Management LLC lifted its stake in International Paper (NYSE:IP) by 4,735.0% in the third quarter, HoldingsChannel.com reports. The firm owned 418,133 shares of the basic materials company’s stock after purchasing an additional 409,485 shares during the quarter. International Assets Investment Management LLC’s holdings in International Paper were worth $20,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Innealta Capital LLC bought a new position in International Paper in the second quarter valued at approximately $26,000. Crewe Advisors LLC bought a new position in International Paper in the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in International Paper in the second quarter valued at approximately $37,000. Eastern Bank bought a new position in International Paper in the third quarter valued at approximately $40,000. Finally, Hilltop National Bank boosted its stake in International Paper by 58.9% in the second quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 415 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 2.8 %

Shares of NYSE:IP opened at $47.30 on Wednesday. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $48.18 and its 200 day simple moving average is $44.69. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 38.77 and a beta of 1.04.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. 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 3.91%. International Paper’s payout ratio is 151.64%.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent analyst reports. Truist Financial lifted their price target 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 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. Royal Bank of Canada lifted 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. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus initiated 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. Three equities 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.46.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s 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 sale, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s 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 sale, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock worth $906,386 over the last ninety days. Company insiders own 0.55% of the company’s stock.

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.