Independent Advisor Alliance Has $1.17 Million Holdings in International Paper (NYSE:IP)

Independent Advisor Alliance lessened its stake in shares of International Paper (NYSE:IP) by 1.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,916 shares of the basic materials company’s stock after selling 442 shares during the quarter. Independent Advisor Alliance’s holdings in International Paper were worth $1,168,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC raised its position in International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in International Paper by 5.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock worth $45,788,000 after purchasing an additional 49,125 shares in the last quarter. Curi RMB Capital LLC acquired a new position in shares of International Paper during the 3rd quarter valued at $4,870,000. Diamond Hill Capital Management Inc. grew its stake in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of International Paper by 29.6% during the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock valued at $15,704,000 after acquiring an additional 73,367 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,440 shares of company stock worth $505,070. Corporate insiders own 0.55% of the company’s stock.

International Paper Price Performance

NYSE IP opened at $59.10 on Wednesday. International Paper has a 1-year low of $32.51 and a 1-year high of $60.36. The business’s fifty day moving average price is $51.84 and its 200-day moving average price is $47.69. 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 stock has a market capitalization of $20.53 billion, a price-to-earnings ratio of 50.51 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The firm 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 quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities analysts predict that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.13%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Analysts Set New Price Targets

Several brokerages have recently commented on IP. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Royal Bank of Canada upped 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. Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned 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 an average target price of $51.54.

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.