86,179 Shares of International Paper Company $IP Bought by Uncommon Cents Investing Inc

Uncommon Cents Investing Inc acquired a new stake in shares of International Paper Company (NYSE:IP) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 86,179 shares of the basic materials company’s stock, valued at approximately $2,859,000.

Several other institutional investors and hedge funds have also modified their holdings of IP. Nisa Investment Advisors LLC acquired a new stake in International Paper during the third quarter worth about $4,567,000. Robeco Institutional Asset Management B.V. acquired a new position in International Paper in the third quarter valued at approximately $863,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in International Paper in the third quarter valued at approximately $314,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in International Paper in the third quarter valued at approximately $2,324,000. Finally, Jeppson Wealth Management LLC purchased a new stake in International Paper in the 3rd quarter worth approximately $233,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity at International Paper

In related news, VP William Hamic sold 24,500 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of a number of analyst reports. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Friday, September 11th. Loop Capital set a $61.00 target price on shares of International Paper in a research note on Tuesday, July 28th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of International Paper from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, September 23rd. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average price target of $46.90.

International Paper Price Performance

Shares of International Paper stock opened at $33.73 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The business has a 50-day moving average price of $35.92 and a 200 day moving average price of $35.99. The firm has a market cap of $17.86 billion, a PE ratio of -5.17, a P/E/G ratio of 4.44 and a beta of 0.93.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. Sell-side analysts predict that International Paper Company will post 1.27 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. Stockholders of record on Monday, November 16th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio is presently -28.37%.

About International Paper

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.