International Paper (NYSE:IP) Stake Lifted by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its stake in International Paper (NYSE:IP) by 96.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,769 shares of the basic materials company’s stock after buying an additional 10,691 shares during the quarter. CreativeOne Wealth LLC’s holdings in International Paper were worth $1,063,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Bank of New York Mellon Corp boosted its position in International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper during the second quarter valued at $119,012,000. Diamond Hill Capital Management Inc. raised its stake in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new stake in International Paper in the second quarter worth about $88,966,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was 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. Over the last ninety days, insiders sold 10,440 shares of company stock worth $505,070. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IP shares. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Truist Financial restated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Trading Up 0.8 %

Shares of NYSE IP opened at $58.85 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a one year low of $32.70 and a one year high of $60.36. The business has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $47.97. The firm has a market capitalization of $20.45 billion, a PE ratio of 50.30 and a beta of 1.02.

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

International Paper Dividend Announcement

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 paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.