Charles Schwab Investment Management Inc. Has $174.87 Million Stock Position in International Paper (NYSE:IP)

Charles Schwab Investment Management Inc. raised its stake in International Paper (NYSE:IP) by 0.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,579,679 shares of the basic materials company’s stock after buying an additional 9,774 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in International Paper were worth $174,867,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aptus Capital Advisors LLC boosted its holdings 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 acquiring an additional 785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in International Paper by 5.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock valued at $45,788,000 after purchasing an additional 49,125 shares during the period. Curi RMB Capital LLC bought a new position in shares of International Paper in the 3rd quarter valued at about $4,870,000. Diamond Hill Capital Management Inc. grew its position in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares during the period. Finally, Raymond James & Associates raised its stake 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 worth $15,704,000 after buying an additional 73,367 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Up 0.2 %

NYSE:IP opened at $59.32 on Friday. The business’s 50-day simple moving average is $51.45 and its 200-day simple moving average is $47.35. International Paper has a fifty-two week low of $32.51 and a fifty-two week high of $60.22. 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 $20.61 billion, a PE ratio of 50.70 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, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts expect that International Paper will post 1.22 earnings per share 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 $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,433,296.56. The trade was a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $944,540 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

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.