4,261 Shares in International Paper (NYSE:IP) Acquired by Leo Wealth LLC

Leo Wealth LLC purchased a new stake in shares of International Paper (NYSE:IP) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 4,261 shares of the basic materials company’s stock, valued at approximately $208,000.

Several other hedge funds also recently modified their holdings of IP. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Paper by 35.1% during the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper in the 2nd quarter worth $119,012,000. Samlyn Capital LLC acquired a new stake in shares of International Paper during the second quarter worth $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of International Paper during the second quarter valued at $81,187,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 3.2 %

International Paper stock opened at $49.04 on Thursday. International Paper has a one year low of $31.76 and a one year high of $50.68. The company’s fifty day moving average price is $48.10 and its two-hundred day moving average price is $44.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 100.08 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is 377.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Truist Financial increased their price objective on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company increased their price target 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. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.46.

Insider Buying and Selling

In other news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’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 directly owns 16,788 shares in the company, valued at $792,729.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were 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 of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,440 shares of company stock valued at $934,142. Company insiders own 0.55% of the company’s stock.

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.