abrdn plc Buys 13,898 Shares of International Paper (NYSE:IP)

abrdn plc grew its holdings in International Paper (NYSE:IP - Free Report) by 20.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,156 shares of the basic materials company's stock after purchasing an additional 13,898 shares during the period. abrdn plc's holdings in International Paper were worth $3,970,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. FCG Investment Co boosted its position in International Paper by 11.4% during the third quarter. FCG Investment Co now owns 9,967 shares of the basic materials company's stock valued at $487,000 after purchasing an additional 1,018 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of International Paper by 17.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 131,591 shares of the basic materials company's stock valued at $6,411,000 after buying an additional 19,954 shares in the last quarter. Forsta AP Fonden increased its holdings in International Paper by 9.5% in the third quarter. Forsta AP Fonden now owns 86,200 shares of the basic materials company's stock worth $4,211,000 after buying an additional 7,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in International Paper by 38.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,437 shares of the basic materials company's stock valued at $1,591,000 after acquiring an additional 9,016 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in International Paper during the third quarter valued at about $228,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

International Paper stock traded up $0.83 during trading hours on Monday, hitting $56.60. The stock had a trading volume of 7,399,373 shares, compared to its average volume of 5,352,478. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $56.90. The company has a market cap of $19.66 billion, a PE ratio of 47.37 and a beta of 1.02. The company has a 50-day moving average of $48.48 and a two-hundred day moving average of $45.06. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company posted $0.64 earnings per share. International Paper's revenue was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that International Paper will post 1.54 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. Investors of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial reaffirmed a "buy" rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday. Argus raised shares of 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. Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They issued a "hold" rating and a $48.70 price target on the stock. Royal Bank of Canada boosted their price objective on International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. Three research 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.96.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now directly owns 41,002 shares in the company, valued at $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $938,486 over the last quarter. Company insiders own 0.55% of the company's stock.

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.