Empirical Finance LLC Buys 224 Shares of International Paper (NYSE:IP)

Empirical Finance LLC boosted its stake in International Paper (NYSE:IP) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,270 shares of the basic materials company’s stock after purchasing an additional 224 shares during the period. Empirical Finance LLC’s holdings in International Paper were worth $599,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IP. Ashton Thomas Securities LLC purchased a new stake in International Paper during the third quarter valued at $28,000. Innealta Capital LLC bought a new position in shares of International Paper in the 2nd quarter worth approximately $26,000. Crewe Advisors LLC purchased a new position in shares of International Paper in the first quarter worth approximately $29,000. Eastern Bank bought a new stake in International Paper during the third quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in International Paper during the third quarter valued at approximately $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IP has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of 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 raised their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. 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. Truist Financial restated a “buy” rating and set 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 shares of 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Transactions at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,840 shares of company stock worth $910,826. 0.55% of the stock is currently owned by company insiders.

International Paper Trading Up 1.1 %

IP stock opened at $57.58 on Monday. The firm has a market cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. The firm has a fifty day moving average price of $50.36 and a 200 day moving average price of $46.66. 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.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Sell-side analysts anticipate that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced 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 dividend yield of 3.21%. International Paper’s dividend payout ratio (DPR) is presently 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.