Vestor Capital LLC Raises Holdings in International Paper (NYSE:IP)

Vestor Capital LLC raised its position in shares of International Paper (NYSE:IP) by 67.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,249 shares of the basic materials company’s stock after acquiring an additional 1,312 shares during the period. Vestor Capital LLC’s holdings in International Paper were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter worth about $26,000. Crewe Advisors LLC acquired a new stake in shares of International Paper in the first quarter worth $29,000. Eastern Bank purchased a new position in shares of International Paper in the 3rd quarter valued at $40,000. Abich Financial Wealth Management LLC purchased a new position in shares of International Paper in the 3rd quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in International Paper during the 2nd quarter worth $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares in the company, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. 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 the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $938,486 over the last ninety days. 0.55% of the stock is owned by insiders.

International Paper Stock Up 0.1 %

Shares of NYSE:IP opened at $55.85 on Monday. International Paper has a 12-month low of $31.76 and a 12-month high of $56.26. The company has a current ratio of 1.53, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a market cap of $19.40 billion, a PE ratio of 47.67 and a beta of 1.02. The company has a fifty day simple moving average of $48.48 and a 200 day simple moving average of $45.06.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating 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%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. On average, equities research analysts anticipate that International Paper will post 1.54 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 3.31%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

Wall Street Analyst Weigh In

Several research firms have commented on IP. Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research report on Friday. Argus raised shares of 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. Finally, Stifel Nicolaus started coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.96.

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.