Brophy Wealth Management LLC Buys Shares of 5,111 International Paper (NYSE:IP)

Brophy Wealth Management LLC bought a new stake in International Paper (NYSE:IP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,111 shares of the basic materials company’s stock, valued at approximately $250,000.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Simplicity Wealth LLC acquired a new stake in International Paper in the second quarter valued at approximately $201,000. ORG Partners LLC lifted its holdings in shares of International Paper by 15,800.0% during the second quarter. ORG Partners LLC now owns 1,908 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 1,896 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of International Paper by 72.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 20,741 shares of the basic materials company’s stock worth $895,000 after purchasing an additional 8,695 shares during the period. 180 Wealth Advisors LLC lifted its holdings in shares of International Paper by 4.2% during the second quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 327 shares during the period. Finally, Old Port Advisors lifted its holdings in shares of International Paper by 0.8% during the second quarter. Old Port Advisors now owns 62,328 shares of the basic materials company’s stock worth $2,689,000 after purchasing an additional 470 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 11.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,040 shares of company stock valued at $304,004 over the last three months. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.8 %

IP opened at $54.76 on Wednesday. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a market cap of $19.02 billion, a P/E ratio of 46.80 and a beta of 1.02. The company has a fifty day moving average price of $53.43 and a two-hundred day moving average price of $48.74.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Analysts predict that International Paper will post 1.22 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is presently 158.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IP shares. Argus upgraded 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. Truist Financial reiterated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Finally, 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, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.54.

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.