41,091 Shares of International Paper Company $IP Acquired by Inspire Investing LLC

Key Points

• Inspire Investing acquired 41,091 shares of International Paper worth approximately $1.36 million, while institutional investors collectively own 81.95% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $46.90, although several firms recently lowered their targets.
• International Paper reported quarterly EPS of $0.04, exceeding estimates, but revenue declined 11.3% year over year. The company also announced a quarterly dividend of $0.4625 per share, representing a 5.5% annualized yield.

Inspire Investing LLC acquired a new position in International Paper Company (NYSE:IP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,091 shares of the basic materials company's stock, valued at approximately $1,363,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IP. BlackRock Inc. purchased a new position in International Paper during the second quarter worth about $1,940,896,000. Bank of New York Mellon Corp purchased a new stake in International Paper in the 2nd quarter valued at about $689,498,000. Atlas FRM LLC bought a new position in International Paper in the 2nd quarter valued at $374,904,000. Hill City Capital LP bought a new stake in International Paper in the second quarter worth about $194,310,000. Finally, Bank of America Corp DE purchased a new stake in shares of International Paper during the 2nd quarter worth approximately $142,802,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IP shares. UBS Group lowered their price target on shares of International Paper from $47.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and set a $46.00 price objective for the company in a report on Friday, September 11th. Seaport Research Partners reissued a "buy" rating and issued a $46.00 target price on shares of International Paper in a research report on Wednesday, August 12th. Citigroup dropped their price target on International Paper from $48.00 to $47.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Finally, Truist Financial cut their price objective on shares of International Paper from $49.00 to $41.00 and set a "buy" rating for the company in a report on Monday, October 12th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.90.

International Paper Trading Up 0.6%

NYSE:IP opened at $33.40 on Tuesday. The business has a 50 day moving average of $35.53 and a 200 day moving average of $37.61. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%. International Paper's revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. As a group, research analysts anticipate that International Paper Company will post 1.26 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 annualized dividend and a dividend yield of 5.5%. International Paper's dividend payout ratio (DPR) is currently -28.37%.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William Hamic sold 24,500 shares of International Paper stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the transaction, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

International Paper Company Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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