Del Sette Capital Management LLC Acquires 804 Shares of International Paper (NYSE:IP)

Del Sette Capital Management LLC grew its position in shares of International Paper (NYSE:IP) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,196 shares of the basic materials company’s stock after acquiring an additional 804 shares during the quarter. International Paper comprises 1.6% of Del Sette Capital Management LLC’s holdings, making the stock its 22nd largest holding. Del Sette Capital Management LLC’s holdings in International Paper were worth $2,061,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IP. Innealta Capital LLC purchased a new position in International Paper in the 2nd quarter valued at approximately $26,000. Crewe Advisors LLC purchased a new stake in International Paper in the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in International Paper during the second quarter valued at approximately $37,000. Eastern Bank purchased a new position in International Paper in the 3rd quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of International Paper in the 3rd quarter worth $42,000. 81.95% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Joseph R. Saab sold 2,440 shares of the business’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 value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at $882,996.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $938,486 in the last quarter. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IP shares. Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.96.

International Paper Price Performance

Shares of IP stock opened at $57.38 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The firm has a market cap of $19.93 billion, a P/E ratio of 49.04 and a beta of 1.02. The business’s 50 day moving average price is $49.41 and its 200-day moving average price is $45.70.

International Paper (NYSE:IP) last announced its earnings results 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. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm 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 firm posted $0.64 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper will post 1.44 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.22%. International Paper’s dividend payout ratio (DPR) is 158.12%.

About International Paper

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.