Vestor Capital LLC Boosts Holdings in International Paper (NYSE:IP)

Vestor Capital LLC grew its position in shares of International Paper (NYSE:IP) by 67.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,249 shares of the basic materials company’s stock after buying an additional 1,312 shares during the quarter. Vestor Capital LLC’s holdings in International Paper were worth $159,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IP. Innealta Capital LLC purchased a new position in International Paper during the second quarter worth about $26,000. Crewe Advisors LLC purchased a new position in shares of International Paper during the 1st quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of International Paper in the 2nd quarter valued at approximately $37,000. Eastern Bank purchased a new stake in shares of International Paper in the third quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in International Paper during the third quarter worth $42,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the transaction, the director now owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $938,486 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Trading Up 0.1 %

Shares of International Paper stock opened at $55.85 on Monday. International Paper has a 1 year low of $31.76 and a 1 year high of $56.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.17. The business has a 50 day moving average price of $48.48 and a 200 day moving average price of $45.06. The company has a market capitalization of $19.40 billion, a P/E ratio of 47.67 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that International Paper will post 1.54 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.31%. International Paper’s dividend payout ratio is currently 158.12%.

Wall Street Analyst Weigh In

A number of research firms have commented on IP. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Truist Financial reiterated 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. Argus upgraded 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. Stifel Nicolaus started coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Finally, Royal Bank of Canada upped their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.96.

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.