International Paper (NYSE:IP) Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC grew its position in shares of International Paper (NYSE:IP) by 34.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 457,235 shares of the basic materials company’s stock after buying an additional 117,838 shares during the quarter. Eventide Asset Management LLC’s holdings in International Paper were worth $22,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 177 shares during the period. Empirical Finance LLC increased its holdings in shares of International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the period. Retirement Systems of Alabama boosted its stake in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares in the last quarter. Finally, Altrius Capital Management Inc boosted its stake in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after buying an additional 296 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at $882,996.40. This trade represents a 11.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,440 shares of company stock worth $505,070. 0.55% of the stock is currently owned by company insiders.

International Paper Trading Down 1.2 %

NYSE:IP opened at $58.38 on Friday. 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 has a 1-year low of $32.70 and a 1-year high of $60.36. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 49.90 and a beta of 1.02. The stock has a fifty day simple moving average of $52.18 and a 200 day simple moving average of $47.84.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.17%. International Paper’s payout ratio is presently 158.12%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada raised their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. BNP Paribas cut 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, November 13th. Finally, 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 note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.