Wilmington Savings Fund Society FSB Buys New Position in International Paper (NYSE:IP)

Wilmington Savings Fund Society FSB purchased a new stake in shares of International Paper (NYSE:IP - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,561 shares of the basic materials company's stock, valued at approximately $614,000.

A number of other institutional investors and hedge funds also recently modified their holdings of IP. Brooklyn Investment Group purchased a new stake in International Paper during the third quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in International Paper in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in International Paper in the 3rd quarter valued at approximately $28,000. Finally, Eastern Bank bought a new stake in International Paper during the 3rd quarter valued at $40,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now directly owns 38,945 shares of the company's stock, valued at $1,872,475.60. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,000 shares of company stock valued at $158,904 over the last three months. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

IP has been the subject of several recent research reports. BNP Paribas cut 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. Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a "buy" rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of "Moderate Buy" and an average target price of $51.54.

International Paper Price Performance

NYSE IP traded up $0.25 during trading hours on Monday, reaching $55.79. 3,042,812 shares of the stock traded hands, compared to its average volume of 5,202,866. The stock has a 50 day simple moving average of $53.95 and a two-hundred day simple moving average of $49.02. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 47.47 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) 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 business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. International Paper's revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that International Paper will post 1.18 EPS for the current fiscal 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 3.32%. The ex-dividend date of this dividend is Friday, November 15th. International Paper's dividend payout ratio is presently 158.12%.

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.