KKM Financial LLC Buys New Position in International Paper (NYSE:IP)

KKM Financial LLC purchased a new position in shares of International Paper (NYSE:IP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 4,314 shares of the basic materials company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CANADA LIFE ASSURANCE Co grew its stake in shares of International Paper by 2.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 273,600 shares of the basic materials company’s stock worth $10,674,000 after acquiring an additional 6,959 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in International Paper during the first quarter worth about $431,000. Gabelli Funds LLC bought a new stake in International Paper in the 1st quarter worth about $215,000. Quadrature Capital Ltd increased its stake in International Paper by 51.1% in the 1st quarter. Quadrature Capital Ltd now owns 32,659 shares of the basic materials company’s stock valued at $1,274,000 after buying an additional 11,049 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. 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. Finally, 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 report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,440 shares of company stock worth $944,540. 0.55% of the stock is owned by company insiders.

International Paper Price Performance

Shares of NYSE:IP opened at $59.31 on Friday. The firm has a market capitalization of $20.60 billion, a PE ratio of 50.69 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $51.45 and a two-hundred day moving average price of $47.29. International Paper has a twelve month low of $32.51 and a twelve month high of $60.22.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the firm earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts forecast that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend 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.