International Paper (NYSE:IP) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its holdings in International Paper (NYSE:IP) by 1,011.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,190 shares of the basic materials company’s stock after acquiring an additional 28,384 shares during the period. NewEdge Advisors LLC’s holdings in International Paper were worth $1,346,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of International Paper by 133.7% during 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 acquiring an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 valued at $824,716,000 after buying an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper during the 2nd quarter worth approximately $119,012,000. Samlyn Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at approximately $88,966,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in International Paper in the second quarter valued at approximately $81,187,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the completion of the transaction, the director now owns 41,602 shares in the company, valued at $1,924,508.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the sale, the director now owns 41,602 shares in the company, valued at $1,924,508.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,440 shares of company stock valued at $931,502. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IP shares. Truist Financial lifted their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. 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 research report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Finally, Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Price Performance

Shares of IP opened at $48.53 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. The company has a market cap of $16.86 billion, a P/E ratio of 99.04 and a beta of 1.04. The firm’s 50 day moving average price is $47.54 and its 200 day moving average price is $43.59.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. On average, research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s payout ratio is presently 377.55%.

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.