KKM Financial LLC Acquires New Position in International Paper (NYSE:IP)

KKM Financial LLC bought a new position in shares of International Paper (NYSE:IP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,314 shares of the basic materials company’s stock, valued at approximately $211,000.

A number of other large investors have also recently modified their holdings of IP. CANADA LIFE ASSURANCE Co boosted its stake in shares of International Paper by 2.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 273,600 shares of the basic materials company’s stock valued at $10,674,000 after purchasing an additional 6,959 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in International Paper in the first quarter valued at approximately $431,000. Gabelli Funds LLC bought a new stake in shares of International Paper during the first quarter worth $215,000. Quadrature Capital Ltd increased its holdings in shares of International Paper by 51.1% during the first quarter. Quadrature Capital Ltd now owns 32,659 shares of the basic materials company’s stock worth $1,274,000 after buying an additional 11,049 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after acquiring an additional 5,492,035 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.2 %

IP opened at $59.31 on Friday. International Paper has a twelve month low of $32.51 and a twelve month high of $60.22. The company has a fifty day moving average of $51.45 and a 200-day moving average of $47.29. The stock has a market cap of $20.60 billion, a PE ratio of 50.69 and a beta of 1.02. 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 the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared 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. This represents a $1.85 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

IP has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Truist Financial reiterated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insiders Place Their Bets

In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. This represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,440 shares of company stock worth $944,540. 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.