BetterWealth LLC Invests $220,000 in International Paper (NYSE:IP)

BetterWealth LLC purchased a new stake in shares of International Paper (NYSE:IP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,500 shares of the basic materials company’s stock, valued at approximately $220,000.

Several other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust lifted its stake in shares of International Paper by 13.6% in the 3rd quarter. Greenleaf Trust now owns 8,452 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,009 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of International Paper by 10.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 5,799 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 551 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of International Paper by 11.0% in the 3rd quarter. Private Advisor Group LLC now owns 44,725 shares of the basic materials company’s stock valued at $2,185,000 after purchasing an additional 4,420 shares during the last quarter. Symphony Financial Ltd. Co. lifted its stake in shares of International Paper by 11.9% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 29,210 shares of the basic materials company’s stock valued at $1,427,000 after purchasing an additional 3,095 shares during the last quarter. Finally, Leo Wealth LLC bought a new stake in shares of International Paper in the 3rd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

NYSE:IP traded up $1.23 during trading hours on Wednesday, hitting $48.76. 1,471,907 shares of the stock were exchanged, compared to its average volume of 5,263,735. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The firm’s fifty day moving average price is $48.04 and its 200 day moving average price is $44.32. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.94 billion, a P/E ratio of 96.98 and a beta of 1.04.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, equities research analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.79%. International Paper’s payout ratio is 377.55%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IP. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Truist Financial raised their price objective on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company lifted 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. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $50.46.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now directly owns 41,002 shares in the company, valued at $1,890,192.20. This represents 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 the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,440 shares of company stock worth $934,142. Company 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.