Kovitz Investment Group Partners LLC Has $5.42 Million Stake in International Paper (NYSE:IP)

Kovitz Investment Group Partners LLC lifted its position in shares of International Paper (NYSE:IP - Free Report) by 31.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,508 shares of the basic materials company's stock after acquiring an additional 27,467 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in International Paper were worth $5,415,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of International Paper in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in International Paper in the 3rd quarter worth $28,000. Innealta Capital LLC purchased a new position in International Paper in the second quarter valued at about $26,000. Eastern Bank acquired a new stake in shares of International Paper during the third quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in International Paper during the 3rd quarter worth $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IP shares. Argus raised shares of 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 lifted their price target on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BNP Paribas downgraded International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Finally, Truist Financial reiterated a "buy" rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. One 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 given a strong buy rating to the company. According to MarketBeat, International Paper presently has an average rating of "Moderate Buy" and a consensus price target of $51.54.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the sale, the director now owns 38,945 shares of the company's stock, valued at $1,872,475.60. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of the business'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 owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,040 shares of company stock worth $304,004 over the last 90 days. Insiders own 0.55% of the company's stock.

International Paper Stock Down 1.7 %

Shares of International Paper stock traded down $0.99 during trading on Monday, hitting $55.79. 4,044,519 shares of the stock traded hands, compared to its average volume of 5,242,291. The stock has a market cap of $19.38 billion, a P/E ratio of 47.68 and a beta of 1.02. The company has a fifty day moving average price of $53.43 and a two-hundred day moving average price of $48.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. 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 previous year, the business earned $0.64 EPS. International Paper's quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. International Paper's payout ratio is currently 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.