Captrust Financial Advisors Has $2.16 Million Holdings in International Paper (NYSE:IP)

Captrust Financial Advisors cut its holdings in shares of International Paper (NYSE:IP) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,287 shares of the basic materials company’s stock after selling 2,521 shares during the period. Captrust Financial Advisors’ holdings in International Paper were worth $2,163,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares in the last quarter. Empirical Finance LLC boosted its holdings in International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after buying an additional 224 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares during the period. Retirement Systems of Alabama raised its position in shares of 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 worth $3,306,000 after buying an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc lifted 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 purchasing an additional 296 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada boosted their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $48.68, for a total value of $29,208.00. Following the completion of the transaction, the director now owns 39,545 shares in the company, valued at $1,925,050.60. This represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. The trade was a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,040 shares of company stock worth $304,004. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $56.71 on Friday. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The stock has a 50-day moving average of $53.14 and a two-hundred day moving average of $48.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market cap of $19.70 billion, a P/E ratio of 48.47 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 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

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.