International Paper (NYSE:IP) Shares Bought by Vestcor Inc

Vestcor Inc lifted its stake in shares of International Paper (NYSE:IP) by 35.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,537 shares of the basic materials company’s stock after purchasing an additional 1,702 shares during the quarter. Vestcor Inc’s holdings in International Paper were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC boosted its stake in International Paper by 15,800.0% during the 2nd quarter. ORG Partners LLC now owns 1,908 shares of the basic materials company’s stock valued at $83,000 after purchasing an additional 1,896 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of International Paper by 72.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 20,741 shares of the basic materials company’s stock worth $895,000 after buying an additional 8,695 shares during the period. Blue Trust Inc. increased its position in International Paper by 32.2% in the 2nd quarter. Blue Trust Inc. now owns 1,606 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 391 shares during the period. Gradient Investments LLC increased its position in International Paper by 1,968.6% in the 2nd quarter. Gradient Investments LLC now owns 3,289 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 3,130 shares during the period. Finally, Paradiem LLC raised its stake in International Paper by 16.9% during the 2nd quarter. Paradiem LLC now owns 236,257 shares of the basic materials company’s stock valued at $10,194,000 after acquiring an additional 34,222 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 3,600 shares of company stock valued at $188,592. 0.55% of the stock is owned by corporate insiders.

International Paper Stock Up 1.3 %

NYSE IP opened at $55.58 on Friday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a market capitalization of $19.31 billion, a P/E ratio of 47.50 and a beta of 1.02. The company’s 50 day simple moving average is $53.95 and its 200 day simple moving average is $48.96. 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 (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts expect that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business 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 $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Wall Street Analysts Forecast Growth

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

International Paper 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.