Blue Trust Inc. Acquires 259 Shares of International Paper Company $IP

Blue Trust Inc. increased its holdings in International Paper Company (NYSE:IP) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,836 shares of the basic materials company’s stock after purchasing an additional 259 shares during the period. Blue Trust Inc.’s holdings in International Paper were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IP. Total Wealth Planning & Management Inc. increased its holdings in shares of International Paper by 23.6% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 13,654 shares of the basic materials company’s stock valued at $639,000 after acquiring an additional 2,605 shares during the last quarter. Vontobel Holding Ltd. boosted its position in International Paper by 37.4% during the second quarter. Vontobel Holding Ltd. now owns 7,673 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 2,090 shares during the period. Maryland State Retirement & Pension System grew its holdings in International Paper by 4.1% during the second quarter. Maryland State Retirement & Pension System now owns 25,474 shares of the basic materials company’s stock valued at $1,193,000 after purchasing an additional 1,008 shares during the last quarter. Ignite Planners LLC grew its holdings in International Paper by 4.6% during the second quarter. Ignite Planners LLC now owns 13,240 shares of the basic materials company’s stock valued at $667,000 after purchasing an additional 579 shares during the last quarter. Finally, Gentry Private Wealth LLC raised its position in shares of International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 188 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Down 0.6%

Shares of IP opened at $46.66 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $24.64 billion, a PE ratio of -466.60, a PEG ratio of 0.57 and a beta of 1.10. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The stock has a 50 day simple moving average of $47.16 and a 200-day simple moving average of $47.92.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. On average, sell-side analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper’s dividend payout ratio is -1,850.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Seaport Res Ptn cut shares of International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Truist Financial lowered their target price on International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Monday. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group reduced their price objective on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.46.

Insider Buying and Selling

In other news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

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.