International Paper (NYSE:IP) Shares Acquired by Lifeworks Advisors LLC

Lifeworks Advisors LLC lifted its position in shares of International Paper (NYSE:IP) by 10.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,437 shares of the basic materials company’s stock after purchasing an additional 631 shares during the period. Lifeworks Advisors LLC’s holdings in International Paper were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IP. Bank of New York Mellon Corp increased its position in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper during the second quarter worth about $119,012,000. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new stake in shares of International Paper during the second quarter worth about $88,966,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 22.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $910,826 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

International Paper Price Performance

Shares of IP opened at $56.93 on Friday. International Paper has a twelve month low of $31.76 and a twelve month high of $59.52. The stock’s 50 day moving average is $49.96 and its two-hundred day moving average is $46.27. The firm has a market capitalization of $19.78 billion, a PE ratio of 48.66 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its quarterly earnings data 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 return on equity of 6.49% and a net margin of 2.25%. The company 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 company earned $0.64 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts anticipate that International Paper will post 1.29 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

Analysts Set New Price Targets

A number of research firms have recently commented on IP. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Argus upgraded 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. Finally, Truist Financial restated a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Company 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.