Kentucky Trust Co Invests $108,000 in International Paper (NYSE:IP)

Kentucky Trust Co bought a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,000 shares of the basic materials company’s stock, valued at approximately $108,000.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in International Paper in the 3rd quarter valued at about $24,327,000. Aptus Capital Advisors LLC lifted its stake in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after buying an additional 785 shares in the last quarter. Wedmont Private Capital purchased a new position in International Paper in the 4th quarter valued at about $376,000. Finally, Curi RMB Capital LLC purchased a new position in International Paper in the 3rd quarter valued at about $4,870,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IP. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

International Paper Stock Down 1.8 %

IP stock opened at $54.66 on Thursday. The firm has a market cap of $18.99 billion, a PE ratio of 34.82 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm’s 50 day moving average price is $55.55 and its 200-day moving average price is $52.15. International Paper has a one year low of $33.16 and a one year high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, equities research analysts anticipate that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is 117.84%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by corporate insiders.

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.