Cerity Partners LLC Grows Position in International Paper (NYSE:IP)

Cerity Partners LLC increased its holdings in shares of International Paper (NYSE:IP) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,050 shares of the basic materials company’s stock after purchasing an additional 2,588 shares during the quarter. Cerity Partners LLC’s holdings in International Paper were worth $1,859,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IP. Innealta Capital LLC purchased a new position in International Paper during the 2nd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in International Paper during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in International Paper in the 2nd quarter valued at approximately $37,000. Eastern Bank acquired a new position in shares of International Paper in the third quarter worth $40,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of International Paper during the third quarter worth $42,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday, November 13th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

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 Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,040 shares of company stock worth $540,104. 0.55% of the stock is owned by corporate insiders.

International Paper Price Performance

Shares of NYSE IP opened at $58.46 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $52.59 and a two-hundred day moving average price of $48.21. The firm has a market cap of $20.31 billion, a PE ratio of 49.96 and a beta of 1.02. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36.

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 company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Sell-side analysts expect that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.16%. International Paper’s payout ratio is 158.12%.

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.