Ceredex Value Advisors LLC Invests $84.53 Million in International Paper (NYSE:IP)

Ceredex Value Advisors LLC bought a new position in International Paper (NYSE:IP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,730,321 shares of the basic materials company’s stock, valued at approximately $84,526,000. International Paper comprises 1.6% of Ceredex Value Advisors LLC’s holdings, making the stock its 16th largest holding. Ceredex Value Advisors LLC owned approximately 0.50% of International Paper at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in shares of International Paper by 101.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,857 shares of the basic materials company’s stock worth $335,000 after buying an additional 3,461 shares during the last quarter. Capital Advisors Inc. OK raised its holdings in shares of International Paper by 2.2% in the 3rd quarter. Capital Advisors Inc. OK now owns 26,327 shares of the basic materials company’s stock worth $1,286,000 after purchasing an additional 557 shares during the period. Stephens Inc. AR raised its holdings in shares of International Paper by 0.7% in the 3rd quarter. Stephens Inc. AR now owns 46,282 shares of the basic materials company’s stock worth $2,261,000 after purchasing an additional 333 shares during the period. US Bancorp DE raised its holdings in shares of International Paper by 0.5% in the 3rd quarter. US Bancorp DE now owns 89,137 shares of the basic materials company’s stock worth $4,354,000 after purchasing an additional 436 shares during the period. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of International Paper by 22.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,280 shares of the basic materials company’s stock worth $453,000 after purchasing an additional 1,687 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Stifel Nicolaus assumed 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 set a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Three investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.96.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the firm’s 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 sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. 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 can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,440 shares of company stock valued at $938,486. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of NYSE:IP opened at $55.77 on Friday. The company has a market cap of $19.37 billion, a price-to-earnings ratio of 45.71 and a beta of 1.04. The company has a 50-day moving average price of $48.48 and a 200-day moving average price of $44.92. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $31.76 and a 12 month high of $56.26.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) 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 company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. International Paper’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that International Paper will post 1.54 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is 151.64%.

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.