Courier Capital LLC Makes New $225,000 Investment in International Paper (NYSE:IP)

Courier Capital LLC acquired a new position in International Paper (NYSE:IP) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,600 shares of the basic materials company’s stock, valued at approximately $225,000.

Several other institutional investors have also recently made changes to their positions in IP. Janney Montgomery Scott LLC lifted its position in shares of International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after buying an additional 17,516 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares in the last quarter. Comerica Bank grew its holdings in shares of International Paper by 23.6% in the first quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock valued at $6,110,000 after purchasing an additional 29,904 shares in the last quarter. Sei Investments Co. raised its stake in International Paper by 9.2% during the first quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company’s stock valued at $16,659,000 after purchasing an additional 35,857 shares in the last quarter. Finally, Waverly Advisors LLC lifted its position in International Paper by 745.4% during the first quarter. Waverly Advisors LLC now owns 72,103 shares of the basic materials company’s stock valued at $2,813,000 after purchasing an additional 63,574 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the transaction, the director now owns 41,602 shares of the company’s stock, valued at approximately $1,924,508.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now owns 16,788 shares in the company, valued at $792,729.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the sale, the director now directly owns 41,602 shares of the company’s stock, valued at approximately $1,924,508.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $934,142 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.8 %

NYSE IP opened at $48.64 on Friday. The stock has a market cap of $16.89 billion, a PE ratio of 99.27 and a beta of 1.04. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The company’s 50-day moving average price is $48.10 and its 200-day moving average price is $44.35. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.80%. International Paper’s payout ratio is currently 377.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IP. Royal Bank of Canada increased their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a 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. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company boosted 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. Finally, Truist Financial raised their target price on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.46.

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.