Bard Financial Services Inc. Purchases Shares of 6,250 International Paper (NYSE:IP)

Bard Financial Services Inc. bought a new position in International Paper (NYSE:IP) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 6,250 shares of the basic materials company’s stock, valued at approximately $305,000.

A number of other large investors have also recently made changes to their positions in the business. Czech National Bank increased its holdings in shares of International Paper by 6.9% in the 3rd quarter. Czech National Bank now owns 70,762 shares of the basic materials company’s stock worth $3,457,000 after buying an additional 4,575 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after buying an additional 239 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in International Paper during the 2nd quarter valued at about $227,000. Bluefin Capital Management LLC bought a new position in International Paper during the 2nd quarter valued at about $227,000. Finally, Sanctuary Advisors LLC purchased a new stake in International Paper in the 2nd quarter valued at about $1,104,000. 81.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the transaction, the director now owns 42,202 shares in the company, valued at approximately $1,843,383.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Joseph R. Saab sold 2,440 shares of the 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 owns 18,668 shares in the company, valued at $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,440 shares of company stock worth $931,502. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

International Paper Stock Up 1.2 %

Shares of NYSE IP traded up $0.58 during trading hours on Friday, hitting $48.53. 3,648,403 shares of the stock were exchanged, compared to its average volume of 5,321,666. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.86 billion, a PE ratio of 99.04 and a beta of 1.04. The firm has a fifty day moving average price of $47.54 and a 200-day moving average price of $43.59. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. 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 business posted $0.59 EPS. International Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

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