World Investment Advisors LLC Purchases 529 Shares of International Paper (NYSE:IP)

World Investment Advisors LLC lifted its position in International Paper (NYSE:IP) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,191 shares of the basic materials company’s stock after purchasing an additional 529 shares during the quarter. World Investment Advisors LLC’s holdings in International Paper were worth $449,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IP. Brooklyn Investment Group bought a new stake in shares of International Paper in the third quarter worth about $25,000. Innealta Capital LLC bought a new position in shares of International Paper during the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper in the third quarter worth approximately $28,000. Finally, Eastern Bank purchased a new stake in shares of International Paper in the third quarter worth approximately $40,000. 81.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on IP shares. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Finally, Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Down 1.0 %

Shares of NYSE IP opened at $55.24 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.19 billion, a PE ratio of 47.21 and a beta of 1.02. The stock’s fifty day simple moving average is $54.27 and its two-hundred day simple moving average is $49.17. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.4625 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.35%. International Paper’s payout ratio is 158.12%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the sale, the director now owns 38,945 shares of the company’s stock, valued at $1,872,475.60. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 3,000 shares of company stock valued at $158,904 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

International Paper 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.