International Paper (NYSE:IP) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL increased its position in shares of International Paper (NYSE:IP) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,764 shares of the basic materials company’s stock after acquiring an additional 1,120 shares during the quarter. Blair William & Co. IL’s holdings in International Paper were worth $3,097,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Vanguard Personalized Indexing Management LLC boosted its stake in International Paper by 23.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,676 shares of the basic materials company’s stock worth $1,755,000 after buying an additional 7,820 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of International Paper in the second quarter worth approximately $206,000. Mercer Global Advisors Inc. ADV grew its holdings in International Paper by 0.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 122,648 shares of the basic materials company’s stock valued at $5,292,000 after purchasing an additional 851 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in International Paper during the second quarter worth approximately $119,012,000. Finally, Brown Brothers Harriman & Co. raised its stake in International Paper by 90.5% during the second quarter. Brown Brothers Harriman & Co. now owns 21,950 shares of the basic materials company’s stock worth $947,000 after purchasing an additional 10,427 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

International Paper stock opened at $48.71 on Monday. 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 firm’s fifty day moving average price is $47.00 and its 200 day moving average price is $42.78. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 99.41 and a beta of 1.04. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68.

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

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the sale, the director now owns 42,202 shares in the company, valued at approximately $1,843,383.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction 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 completion of the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the sale, the director now directly owns 42,202 shares in the company, valued at $1,843,383.36. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $927,956 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of several research reports. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial lifted their price target on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus started coverage on shares of International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

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.