1,610 Shares in International Paper (NYSE:IP) Acquired by Sentry Investment Management LLC

Sentry Investment Management LLC bought a new stake in International Paper (NYSE:IP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,610 shares of the basic materials company’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norden Group LLC acquired a new position in International Paper in the first quarter valued at approximately $292,000. Janney Montgomery Scott LLC increased its stake in shares of International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of International Paper in the 1st quarter valued at approximately $86,000. Daiwa Securities Group Inc. boosted its stake in International Paper by 21.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 37,201 shares of the basic materials company’s stock worth $1,452,000 after acquiring an additional 6,605 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in International Paper by 301.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,003 shares of the basic materials company’s stock valued at $1,405,000 after purchasing an additional 27,044 shares during the period. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IP. Truist Financial reissued a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Wells Fargo & Company lifted their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.96.

International Paper Trading Up 1.7 %

NYSE:IP opened at $57.56 on Wednesday. The company has a market cap of $20.00 billion, a P/E ratio of 49.20 and a beta of 1.02. International Paper has a twelve month low of $31.76 and a twelve month high of $57.80. The business has a 50 day moving average price of $48.81 and a two-hundred day moving average price of $45.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, analysts expect that International Paper will post 1.51 EPS for the current fiscal year.

International Paper Announces Dividend

The business 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

Insider Buying and Selling

In related 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 transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This trade 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 through this link. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’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 transaction of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction 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 sale, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $938,486 over the last quarter. 0.55% of the stock is owned by company insiders.

About International Paper

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.