1,730,321 Shares in International Paper (NYSE:IP) Purchased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC bought a new position in International Paper (NYSE:IP - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,730,321 shares of the basic materials company's stock, valued at approximately $84,526,000. International Paper makes up approximately 1.6% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 16th biggest holding. Ceredex Value Advisors LLC owned about 0.50% of International Paper as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IP. Price T Rowe Associates Inc. MD lifted its position in International Paper by 35.1% during the first 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 purchasing an additional 5,492,035 shares during the last quarter. Bank of New York Mellon Corp increased its stake in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company's stock valued at $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in International Paper during the second quarter valued at about $119,012,000. Samlyn Capital LLC bought a new stake in International Paper during the second quarter worth about $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of International Paper in the 2nd quarter worth about $81,187,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Up 0.4 %

Shares of NYSE IP traded up $0.23 during mid-day trading on Friday, hitting $55.77. 10,454,784 shares of the stock traded hands, compared to its average volume of 5,342,824. The company has a market cap of $19.37 billion, a price-to-earnings ratio of 47.67 and a beta of 1.02. The stock has a fifty day moving average price of $48.48 and a 200-day moving average price of $44.99. International Paper has a 52 week low of $31.76 and a 52 week high of $56.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59.

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. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that International Paper will post 1.54 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio (DPR) is 158.12%.

Insider Buying and Selling at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,440 shares of company stock worth $938,486. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IP. Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus started coverage on shares of International Paper in a report on Tuesday, July 9th. They set a "hold" rating and a $48.70 target price on the stock. Truist Financial reissued a "buy" rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.96.

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.