Brophy Wealth Management LLC Buys Shares of 5,111 International Paper (NYSE:IP)

Brophy Wealth Management LLC bought a new stake in International Paper (NYSE:IP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,111 shares of the basic materials company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in International Paper by 125.1% in 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 acquiring an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Performance

International Paper stock opened at $54.76 on Wednesday. The firm’s 50 day simple moving average is $53.43 and its 200 day simple moving average is $48.74. 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 $19.02 billion, a PE ratio of 46.80 and a beta of 1.02. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36.

International Paper (NYSE:IP) last posted its 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. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, analysts expect that International Paper will post 1.22 earnings per share for the current fiscal 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 3.38%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,040 shares of company stock valued at $304,004. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IP. Royal Bank of Canada upped their price target 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 upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Company 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.