Home Federal Bank of Tennessee Acquires 745 Shares of International Paper (NYSE:IP)

Home Federal Bank of Tennessee increased its holdings in International Paper (NYSE:IP) by 2.6% in the third quarter, Holdings Channel reports. The institutional investor owned 28,935 shares of the basic materials company’s stock after buying an additional 745 shares during the period. Home Federal Bank of Tennessee’s holdings in International Paper were worth $1,413,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of International Paper during the 2nd quarter worth approximately $26,000. MCF Advisors LLC increased its stake in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of International Paper during the 1st quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper in the second quarter valued at about $37,000. Finally, Hilltop National Bank raised its stake in International Paper by 58.9% during the second quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Up 0.6 %

Shares of IP traded up $0.27 during trading hours on Tuesday, reaching $47.20. 563,256 shares of the stock traded hands, compared to its average volume of 5,260,494. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 95.82 and a beta of 1.04. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The stock has a fifty day simple moving average of $47.99 and a 200 day simple moving average of $44.25.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. On average, equities analysts forecast that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.92%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Ratings Changes

Several equities analysts have commented on IP shares. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Argus upgraded 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. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Finally, Truist Financial lifted their target price on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total value of $27,756.00. Following the completion of the transaction, the director now owns 41,602 shares in the company, valued at $1,924,508.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the transaction, the director now directly owns 41,602 shares in the company, valued at $1,924,508.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares of the company’s stock, valued at $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $934,142 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

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.