B.O.S.S. Retirement Advisors LLC Has $2.46 Million Stock Position in International Paper (NYSE:IP)

B.O.S.S. Retirement Advisors LLC lessened its position in shares of International Paper (NYSE:IP) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 50,334 shares of the basic materials company’s stock after selling 714 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in International Paper were worth $2,459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. grew its position in shares of International Paper by 90.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 10,969 shares of the basic materials company’s stock worth $536,000 after buying an additional 5,207 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $312,000. Creative Planning lifted its holdings in shares of International Paper by 6.6% in the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock worth $3,562,000 after purchasing an additional 4,500 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of International Paper by 11.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company’s stock worth $994,000 after purchasing an additional 2,134 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of International Paper in the 3rd quarter worth $88,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.5 %

Shares of International Paper stock opened at $47.98 on Thursday. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The firm has a market cap of $16.66 billion, a PE ratio of 97.92 and a beta of 1.04. The stock has a fifty day moving average price of $47.86 and a 200-day moving average price of $44.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.59 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent research reports. Royal Bank of Canada increased 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. Truist Financial raised their price objective on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. 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’s stock. Based on data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $50.46.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the sale, the director now directly owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $934,142 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

About International Paper

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.