First Horizon Advisors Inc. Increases Stock Position in International Paper (NYSE:IP)

First Horizon Advisors Inc. raised its position in International Paper (NYSE:IP) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,282 shares of the basic materials company’s stock after buying an additional 177 shares during the period. First Horizon Advisors Inc.’s holdings in International Paper were worth $160,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper during the 3rd quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in International Paper in the second quarter valued at approximately $26,000. Eastern Bank purchased a new stake in shares of International Paper in the third quarter valued at approximately $40,000. Abich Financial Wealth Management LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s 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 completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $944,540 in the last ninety days. 0.55% of the stock is owned by insiders.

International Paper Trading Up 0.2 %

Shares of International Paper stock opened at $59.32 on Friday. 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’s 50 day simple moving average is $51.45 and its 200-day simple moving average is $47.35. The stock has a market cap of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. International Paper has a 1-year low of $32.51 and a 1-year high of $60.22.

International Paper (NYSE:IP) last issued its earnings results 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. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the business earned $0.64 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts predict that International Paper will post 1.22 EPS for the current fiscal 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 paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Analyst Upgrades and Downgrades

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

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.