OneAscent Wealth Management LLC Invests $228,000 in International Paper (NYSE:IP)

OneAscent Wealth Management LLC acquired a new stake in International Paper (NYSE:IP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,671 shares of the basic materials company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in International Paper in the 3rd quarter valued at $28,000. Innealta Capital LLC acquired a new stake in shares of International Paper in the second quarter valued at about $26,000. Crewe Advisors LLC purchased a new position in shares of International Paper in the first quarter worth about $29,000. Eastern Bank acquired a new position in International Paper during the third quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in International Paper during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.2 %

Shares of International Paper stock opened at $57.70 on Tuesday. International Paper has a one year low of $31.76 and a one year high of $59.52. The firm has a fifty day moving average of $50.56 and a two-hundred day moving average of $46.81. The company has a market cap of $20.05 billion, a P/E ratio of 49.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that International Paper will post 1.29 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is 158.12%.

Insider Activity at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This represents a 22.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,440 shares of company stock valued at $944,540. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 report on Wednesday, August 14th. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.54.

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.