Private Trust Co. NA Has $275,000 Stake in International Paper (NYSE:IP)

Private Trust Co. NA increased its position in shares of International Paper (NYSE:IP) by 15.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,627 shares of the basic materials company’s stock after acquiring an additional 771 shares during the period. Private Trust Co. NA’s holdings in International Paper were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. First Horizon Advisors Inc. grew its holdings in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 177 shares during the last quarter. Empirical Finance LLC increased its position in International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 224 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 239 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after purchasing an additional 246 shares during the period. Finally, Altrius Capital Management Inc grew its stake in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 1.2 %

International Paper stock opened at $58.38 on Friday. The company has a market capitalization of $20.28 billion, a PE ratio of 49.90 and a beta of 1.02. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The firm’s fifty day moving average is $52.18 and its 200 day moving average is $47.84. 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 announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm 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 business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts predict that International Paper will post 1.22 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 3.17%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Activity

In other news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,440 shares of company stock worth $505,070 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IP has been the topic of several recent research reports. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.54.

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.