OneDigital Investment Advisors LLC Grows Stock Holdings in International Paper (NYSE:IP)

OneDigital Investment Advisors LLC grew its holdings in International Paper (NYSE:IP) by 5.7% during the third quarter, HoldingsChannel.com reports. The fund owned 5,824 shares of the basic materials company’s stock after purchasing an additional 314 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in International Paper were worth $284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 133.7% in 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 purchasing an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD boosted its position in International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper during the second quarter valued at about $119,012,000. Diamond Hill Capital Management Inc. increased its position 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 worth $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Finally, Samlyn Capital LLC acquired a new position in shares of International Paper in the second quarter worth about $88,966,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,440 shares of company stock worth $944,540. 0.55% of the stock is owned by insiders.

International Paper Trading Up 0.2 %

International Paper stock opened at $59.31 on Friday. International Paper has a 1 year low of $32.51 and a 1 year high of $60.22. The firm’s 50-day moving average is $51.45 and its 200-day moving average is $47.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The company has a market cap of $20.60 billion, a P/E ratio of 50.69 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, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. On average, equities analysts expect that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.12%. International Paper’s payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

IP has been the topic of several analyst reports. Truist Financial restated a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Finally, 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 report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Paper has an average rating of “Moderate Buy” and an average price target of $51.54.

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.