International Paper (NYSE:IP) Stock Holdings Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in International Paper (NYSE:IP) by 677.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,555 shares of the basic materials company’s stock after buying an additional 1,355 shares during the quarter. Exchange Traded Concepts LLC’s holdings in International Paper were worth $76,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Bank of New York Mellon Corp lifted its position in International Paper by 133.7% in 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 purchasing an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in International Paper in the 2nd quarter valued at about $119,012,000. Samlyn Capital LLC bought a new stake in International Paper in the 2nd quarter valued at about $88,966,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in International Paper in the 2nd quarter valued at about $81,187,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of IP opened at $47.52 on Wednesday. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68. The firm’s 50 day moving average is $48.04 and its 200-day moving average is $44.32. The stock has a market capitalization of $16.51 billion, a P/E ratio of 96.98 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

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

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is 377.55%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Stifel Nicolaus started coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Wells Fargo & Company raised their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial raised their target price on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada raised their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the transaction, the director now directly owns 41,002 shares in the company, valued at $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s 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 completion of the sale, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 0.00 % 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 $934,142 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

International Paper 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.