Moors & Cabot Inc. Buys 1,591 Shares of International Paper (NYSE:IP)

Moors & Cabot Inc. lifted its stake in shares of International Paper (NYSE:IP) by 4.3% in the third quarter, Holdings Channel.com reports. The fund owned 38,833 shares of the basic materials company’s stock after acquiring an additional 1,591 shares during the quarter. Moors & Cabot Inc.’s holdings in International Paper were worth $1,897,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised 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 acquiring an additional 5,492,035 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 valued at $613,367,000 after acquiring an additional 8,132,332 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings 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 valued at $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of International Paper during the second quarter valued at approximately $119,012,000. Finally, Samlyn Capital LLC purchased a new position in shares of International Paper during the second quarter valued at approximately $88,966,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Up 1.7 %

IP stock opened at $58.84 on Thursday. The stock’s fifty day simple moving average is $51.01 and its two-hundred day simple moving average is $47.05. 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 has a 1-year low of $32.21 and a 1-year high of $60.22. The stock has a market cap of $20.44 billion, a P/E ratio of 50.29 and a beta of 1.02.

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, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion for 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%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Analysts expect that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.14%. International Paper’s payout ratio is presently 158.12%.

Insider Buying and Selling at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the business’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 sale, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 15.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 22.95 % 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 $944,540 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on IP. Wells Fargo & Company lifted their target price 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. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Truist Financial reaffirmed 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. 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, November 13th. Finally, Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

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.