GoalVest Advisory LLC Grows Stock Position in International Paper (NYSE:IP)

GoalVest Advisory LLC increased its holdings in International Paper (NYSE:IP) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,735 shares of the basic materials company’s stock after buying an additional 1,034 shares during the period. GoalVest Advisory LLC’s holdings in International Paper were worth $1,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper in the 3rd quarter worth about $28,000. Innealta Capital LLC acquired a new position in International Paper in the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in International Paper in the 1st quarter valued at about $29,000. Eastern Bank acquired a new position in International Paper in the 3rd quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in International Paper in the 3rd quarter valued at about $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Clay R. Ellis sold 9,000 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,840 shares of company stock worth $910,826. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IP has been the subject of several analyst reports. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Truist Financial reissued a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Stock Up 2.0 %

NYSE IP opened at $57.58 on Friday. The stock has a market cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The business has a 50 day moving average price of $50.36 and a two-hundred day moving average price of $46.58. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, sell-side analysts predict that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid 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 is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

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.