Wesleyan Assurance Society Has $6.32 Million Stock Position in International Paper Company (NYSE:IP)

Wesleyan Assurance Society boosted its stake in shares of International Paper Company (NYSE:IP - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,820 shares of the basic materials company's stock after acquiring an additional 5,810 shares during the quarter. Wesleyan Assurance Society's holdings in International Paper were worth $6,321,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IP. Summit Financial LLC increased its stake in shares of International Paper by 4.3% in the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock valued at $293,000 after buying an additional 224 shares in the last quarter. Greenleaf Trust increased its stake in shares of International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after buying an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after acquiring an additional 231 shares during the last quarter. Csenge Advisory Group boosted its holdings in International Paper by 1.5% in the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after acquiring an additional 234 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in International Paper by 6.0% in the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after acquiring an additional 235 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. UBS Group assumed coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price target (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.65.

International Paper Stock Up 1.5%

International Paper stock traded up $0.79 during midday trading on Thursday, reaching $54.89. The stock had a trading volume of 4,806,188 shares, compared to its average volume of 6,658,384. The firm's fifty day simple moving average is $48.78 and its 200-day simple moving average is $50.91. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The stock has a market capitalization of $28.98 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. As a group, analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio (DPR) is 158.12%.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

International Paper Profile

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.