Thrivent Financial for Lutherans Trims Stake in International Paper (NYSE:IP)

Thrivent Financial for Lutherans lessened its holdings in International Paper (NYSE:IP) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,242 shares of the basic materials company’s stock after selling 384 shares during the quarter. Thrivent Financial for Lutherans’ holdings in International Paper were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC boosted its stake in shares of International Paper by 3.7% during the third quarter. GoalVest Advisory LLC now owns 28,735 shares of the basic materials company’s stock valued at $1,404,000 after purchasing an additional 1,034 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of International Paper by 1.8% during the third quarter. Natixis Advisors LLC now owns 232,142 shares of the basic materials company’s stock valued at $11,340,000 after buying an additional 4,135 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of International Paper by 49.8% during the third quarter. Empowered Funds LLC now owns 42,628 shares of the basic materials company’s stock worth $2,082,000 after purchasing an additional 14,178 shares during the period. Empirical Finance LLC boosted its holdings in International Paper by 1.9% in 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 last quarter. Finally, Vectors Research Management LLC purchased a new position in shares of International Paper during the 3rd quarter valued at approximately $224,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the subject of several recent analyst reports. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average price target of $51.54.

International Paper Stock Performance

Shares of IP stock opened at $58.75 on Wednesday. The stock’s 50-day moving average is $52.79 and its two-hundred day moving average is $48.34. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 50.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Analysts predict that International Paper will post 1.22 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 3.15%. International Paper’s payout ratio is currently 158.12%.

Insider Activity

In other news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. This represents a 11.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, 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 three months, insiders sold 11,040 shares of company stock worth $540,104. 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.