Charles Schwab Investment Management Inc. Acquires 9,774 Shares of International Paper (NYSE:IP)

Charles Schwab Investment Management Inc. increased its holdings in International Paper (NYSE:IP) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,579,679 shares of the basic materials company’s stock after purchasing an additional 9,774 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.03% of International Paper worth $174,867,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 133.7% during 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 acquiring an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in International Paper during the second quarter worth approximately $119,012,000. Diamond Hill Capital Management Inc. grew its holdings in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Samlyn Capital LLC bought a new position in shares of International Paper in the second quarter valued at approximately $88,966,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of International Paper in the third quarter worth $84,526,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on IP. Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada increased 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. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.54.

International Paper Price Performance

Shares of IP stock opened at $59.32 on Friday. International Paper has a 12 month low of $32.51 and a 12 month high of $60.22. The company has a market capitalization of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. The stock has a 50 day moving average of $51.45 and a two-hundred day moving average of $47.35. 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) last issued 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 return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $0.64 earnings per share. International Paper’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that International Paper will post 1.22 EPS for the current 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 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated 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 owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 15.30 % 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 $944,540 over the last quarter. Company insiders own 0.55% of the company’s stock.

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.