Empowered Funds LLC Acquires 14,178 Shares of International Paper (NYSE:IP)

Empowered Funds LLC raised its stake in International Paper (NYSE:IP - Free Report) by 49.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 42,628 shares of the basic materials company's stock after purchasing an additional 14,178 shares during the quarter. Empowered Funds LLC's holdings in International Paper were worth $2,082,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IP. Innealta Capital LLC bought a new stake in shares of International Paper in the second quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the 3rd quarter worth approximately $28,000. Crewe Advisors LLC purchased a new position in shares of International Paper during the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of International Paper during the second quarter valued at approximately $37,000. Finally, Eastern Bank purchased a new stake in International Paper in the third quarter worth $40,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Up 1.7 %

NYSE:IP opened at $58.84 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a market cap of $20.44 billion, a P/E ratio of 50.29 and a beta of 1.02. International Paper has a fifty-two week low of $32.21 and a fifty-two week high of $60.22. The firm has a 50-day simple moving average of $51.01 and a two-hundred day simple moving average of $47.05.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during 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 firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Analysts predict that International Paper will post 1.29 earnings per share 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 issued a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.14%. International Paper's payout ratio is 158.12%.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The transaction 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 on Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the sale, the director now directly owns 37,745 shares of the company's stock, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,440 shares of company stock worth $944,540. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

IP has been the topic of a number of research analyst reports. Argus raised shares of International Paper from a "hold" rating to a "buy" rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. BNP Paribas downgraded International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Finally, Truist Financial restated a "buy" rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of "Moderate Buy" and an average 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.