International Paper (NYSE:IP) Shares Purchased by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee raised its position in International Paper (NYSE:IP) by 2.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 28,935 shares of the basic materials company’s stock after purchasing an additional 745 shares during the period. Home Federal Bank of Tennessee’s holdings in International Paper were worth $1,413,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings 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 worth $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of International Paper by 133.7% in the 2nd 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 purchasing an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper in the second quarter valued at approximately $119,012,000. Samlyn Capital LLC acquired a new position in International Paper in the second quarter valued at $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of International Paper during the second quarter worth approximately $81,187,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of IP stock traded up $0.27 on Tuesday, hitting $47.20. 563,256 shares of the stock traded hands, compared to its average volume of 5,260,494. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The company’s fifty day moving average is $47.99 and its 200 day moving average is $44.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market capitalization of $16.39 billion, a PE ratio of 95.82 and a beta of 1.04.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.59 EPS. International Paper’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Ratings Changes

A number of brokerages recently commented on IP. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Royal Bank of Canada increased their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.46.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares in the company, valued at $1,890,192.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. 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 quarter, insiders have sold 19,440 shares of company stock valued at $934,142. 0.55% of the stock is owned by corporate insiders.

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.