Wilmington Savings Fund Society FSB Takes Position in International Paper (NYSE:IP)

Wilmington Savings Fund Society FSB acquired a new stake in shares of International Paper (NYSE:IP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,561 shares of the basic materials company’s stock, valued at approximately $614,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IP. First Horizon Advisors Inc. lifted its stake in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 177 shares during the last quarter. Empirical Finance LLC lifted its position in International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after buying an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after buying an additional 239 shares during the last quarter. Retirement Systems of Alabama boosted its stake in International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc grew its position in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.2 %

Shares of NYSE:IP opened at $55.54 on Monday. The stock’s 50-day moving average is $53.95 and its 200 day moving average is $49.02. The company has a market cap of $19.30 billion, a PE ratio of 47.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last announced its earnings results 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 return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that International Paper will post 1.18 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. International Paper’s dividend payout ratio is 158.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective 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. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Finally, 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 note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $48.68, for a total value of $29,208.00. Following the completion of the transaction, the director now owns 39,545 shares in the company, valued at $1,925,050.60. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 3,000 shares of company stock valued at $158,904. Corporate insiders own 0.55% of the company’s stock.

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.