27,327 Shares of International Paper Company $IP Purchased by Garner Asset Management Corp

Garner Asset Management Corp acquired a new position in shares of International Paper Company (NYSE:IP) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 27,327 shares of the basic materials company’s stock, valued at approximately $913,000.

A number of other hedge funds have also made changes to their positions in IP. Salomon & Ludwin LLC purchased a new position in shares of International Paper in the third quarter valued at approximately $25,000. Aberdeen Wealth Management LLC acquired a new stake in shares of International Paper in the second quarter worth approximately $27,000. Essential Investment Partners LLC purchased a new stake in shares of International Paper during the third quarter worth approximately $27,000. Ascentis Independent Advisors purchased a new stake in shares of International Paper during the first quarter worth approximately $28,000. Finally, Delta Asset Management LLC TN acquired a new position in International Paper in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

IP stock opened at $35.14 on Wednesday. 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 0.59, a current ratio of 1.01 and a quick ratio of 0.77. The firm has a market capitalization of $18.61 billion, a PE ratio of 76.33, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The business has a 50 day simple moving average of $34.74 and a 200-day simple moving average of $37.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) earnings per share. Equities research analysts anticipate that International Paper Company will post 1.13 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.3%. International Paper’s dividend payout ratio (DPR) is -28.20%.

Insider Activity at International Paper

In other news, 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 transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial restated a “buy” rating and issued a $39.00 price objective (down from $41.00) on shares of International Paper in a report on Thursday, October 29th. Wells Fargo & Company dropped their target price on shares of International Paper from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. UBS Group reduced their target price on shares of International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Loop Capital set a $61.00 price target on shares of International Paper in a research note on Tuesday, July 28th. Finally, Bank of America restated a “buy” rating on shares of International Paper in a research report on Thursday, October 29th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average price target of $45.44.

International Paper 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.