International Paper (NYSE:IP) Shares Bought by GoalVest Advisory LLC

GoalVest Advisory LLC boosted its holdings in shares of International Paper (NYSE:IP) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,735 shares of the basic materials company’s stock after buying an additional 1,034 shares during the quarter. GoalVest Advisory LLC’s holdings in International Paper were worth $1,404,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of International Paper during the second quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in International Paper during the 3rd quarter worth about $28,000. Crewe Advisors LLC acquired a new position in shares of International Paper during the 1st quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of International Paper during the 2nd quarter worth about $37,000. Finally, Eastern Bank purchased a new position in shares of International Paper in the 3rd quarter valued at about $40,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on IP. Wells Fargo & Company upped their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday. Finally, Truist Financial reiterated a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insider Transactions at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 15.30 % 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 on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,840 shares of company stock worth $910,826. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $57.58 on Friday. The firm has a market cap of $20.00 billion, a P/E ratio of 49.21 and a beta of 1.02. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The business’s 50-day moving average price is $50.36 and its 200 day moving average price is $46.58. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

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 company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts expect that International Paper will post 1.29 earnings per share for the current year.

International Paper Announces Dividend

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

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.