Toronto Dominion Bank Purchases 14,962 Shares of International Paper (NYSE:IP)

Toronto Dominion Bank raised its stake in International Paper (NYSE:IP - Free Report) by 15.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 114,836 shares of the basic materials company's stock after purchasing an additional 14,962 shares during the quarter. Toronto Dominion Bank's holdings in International Paper were worth $5,610,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in International Paper during the 3rd quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of International Paper in the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper during the third quarter valued at approximately $28,000. Finally, Eastern Bank bought a new position in shares of International Paper during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares of the company's stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 3,600 shares of company stock valued at $188,592 in the last quarter. 0.55% of the stock is owned by insiders.

International Paper Stock Up 1.2 %

IP traded up $0.68 during midday trading on Friday, reaching $55.54. The company's stock had a trading volume of 3,254,901 shares, compared to its average volume of 5,211,820. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The stock's 50-day moving average is $53.95 and its 200-day moving average is $49.02. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 47.47 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, research analysts expect that International Paper will post 1.18 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. International Paper's dividend payout ratio is presently 158.12%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial reissued a "buy" rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, BNP Paribas downgraded shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.54.

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.