Thrivent Financial for Lutherans Sells 384 Shares of International Paper (NYSE:IP)

Thrivent Financial for Lutherans trimmed its stake in shares of International Paper (NYSE:IP) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,242 shares of the basic materials company’s stock after selling 384 shares during the quarter. Thrivent Financial for Lutherans’ holdings in International Paper were worth $696,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Empirical Finance LLC increased its stake in International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 224 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 239 shares during the period. Retirement Systems of Alabama boosted its position in shares of International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares in the last quarter. Altrius Capital Management Inc increased its stake in International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after purchasing an additional 296 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in International Paper by 5.7% in the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 314 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

IP opened at $58.75 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The stock has a market capitalization of $20.41 billion, a PE ratio of 50.21 and a beta of 1.02. The stock’s 50 day moving average price is $52.79 and its 200-day moving average price is $48.34.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.15%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. This trade represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares in the company, valued at $792,729.36. This represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,040 shares of company stock worth $540,104. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

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

International Paper Company 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.