Private Trust Co. NA grew its position in shares of International Paper (NYSE:IP – Free Report) by 15.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,627 shares of the basic materials company’s stock after buying an additional 771 shares during the quarter. Private Trust Co. NA’s holdings in International Paper were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in International Paper in the second quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of International Paper in the 2nd quarter worth about $37,000. Eastern Bank bought a new position in International Paper during the third quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in International Paper during the third quarter worth about $42,000. 81.95% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on IP shares. Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Finally, Truist Financial reaffirmed 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $51.54.
Insiders Place Their Bets
In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares of the company’s stock, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,440 shares of company stock worth $505,070 in the last three months. 0.55% of the stock is currently owned by corporate insiders.
International Paper Price Performance
International Paper stock opened at $58.38 on Friday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 49.90 and a beta of 1.02. International Paper has a one year low of $32.70 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The business has a fifty day moving average price of $52.18 and a 200-day moving average price of $47.84.
International Paper (NYSE:IP – Get Free Report) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that International Paper will post 1.22 EPS for the current year.
International Paper Dividend Announcement
The company also recently announced 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. This represents a $1.85 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date 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.
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