1,610 Shares in International Paper (NYSE:IP) Acquired by Sentry Investment Management LLC

Sentry Investment Management LLC bought a new stake in International Paper (NYSE:IP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,610 shares of the basic materials company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in 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 during the period. Price T Rowe Associates Inc. MD grew its position in shares of International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of International Paper during the 2nd quarter valued at $119,012,000. Samlyn Capital LLC bought a new position in International Paper in the 2nd quarter worth about $88,966,000. Finally, Diamond Hill Capital Management Inc. bought a new position in International Paper in the 2nd quarter worth about $81,187,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $938,486 in the last 90 days. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IP shares. Wells Fargo & Company raised their price objective on shares of 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 raised their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Argus raised 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. Finally, Truist Financial restated a “buy” rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.96.

International Paper Trading Up 1.7 %

Shares of IP stock opened at $57.56 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm has a market cap of $20.00 billion, a P/E ratio of 49.20 and a beta of 1.02. The business has a 50-day moving average price of $48.81 and a two-hundred day moving average price of $45.36. International Paper has a 12-month low of $31.76 and a 12-month high of $57.80.

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, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Equities analysts anticipate that International Paper will post 1.51 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

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.