Private Advisor Group LLC Has $2.19 Million Position in International Paper (NYSE:IP)

Private Advisor Group LLC increased its position in International Paper (NYSE:IP) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,725 shares of the basic materials company’s stock after buying an additional 4,420 shares during the quarter. Private Advisor Group LLC’s holdings in International Paper were worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its position 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 purchasing an additional 239 shares during the period. Retirement Systems of Alabama lifted its holdings in International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares during the period. Altrius Capital Management Inc boosted its position in International Paper by 0.3% during 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 acquiring an additional 296 shares during the last quarter. 180 Wealth Advisors LLC raised its position in shares of International Paper by 4.2% in the 2nd quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 327 shares in the last quarter. Finally, Ranch Capital Advisors Inc. lifted its stake in shares of International Paper by 1.0% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 35,405 shares of the basic materials company’s stock valued at $1,528,000 after purchasing an additional 345 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IP. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Royal Bank of Canada lifted their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Truist Financial lifted their target price on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.46.

International Paper Trading Down 2.8 %

NYSE IP opened at $47.30 on Wednesday. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 38.77 and a beta of 1.04. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The business has a 50 day moving average price of $48.18 and a 200-day moving average price of $44.69. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued 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 3.91%. International Paper’s dividend payout ratio is 151.64%.

Insider Activity

In related news, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock worth $906,386 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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.