Transamerica Financial Advisors Inc. Invests $108,000 in International Paper (NYSE:IP)

Transamerica Financial Advisors Inc. bought a new position in shares of International Paper (NYSE:IP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,211 shares of the basic materials company’s stock, valued at approximately $108,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in International Paper in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in International Paper in the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new position in International Paper in the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in International Paper in the second quarter valued at approximately $37,000. Finally, Eastern Bank acquired a new position in International Paper in the third quarter valued at approximately $40,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 1.2 %

International Paper stock opened at $58.38 on Thursday. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock’s fifty day simple moving average is $52.02 and its 200-day simple moving average is $47.76. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. 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 (NYSE:IP) last posted its quarterly earnings data 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 analyst estimates of $4.70 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts expect that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm 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 $0.4625 dividend. This represents a $1.85 annualized dividend 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%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company’s stock, valued at $2,120,891.55. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares in the company, valued at $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 valued at $505,070 over the last quarter. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on IP shares. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.54.

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.