Vectors Research Management LLC Takes $224,000 Position in International Paper (NYSE:IP)

Vectors Research Management LLC purchased a new stake in shares of International Paper (NYSE:IP) during the third quarter, HoldingsChannel reports. The fund purchased 4,600 shares of the basic materials company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IP. Massmutual Trust Co. FSB ADV boosted its position in shares of International Paper by 20.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 239 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after purchasing an additional 246 shares during the period. Altrius Capital Management Inc boosted its position in shares of 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 buying an additional 296 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of International Paper by 5.7% in the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after buying an additional 314 shares during the period. Finally, 180 Wealth Advisors LLC boosted its holdings in International Paper by 4.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 327 shares during the period. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IP shares. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday. 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 report on Wednesday, August 14th. Wells Fargo & Company boosted their price target on shares of 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 reissued a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insiders Place Their Bets

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. This trade represents a 22.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $910,826 over the last ninety days. Company insiders own 0.55% of the company’s stock.

International Paper Trading Up 1.0 %

Shares of IP opened at $56.93 on Friday. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The stock has a market cap of $19.78 billion, a PE ratio of 48.66 and a beta of 1.02. The firm’s fifty day moving average is $49.96 and its two-hundred day moving average is $46.27. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its 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 business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Research analysts forecast that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company 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 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is currently 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.