Wesbanco Bank Inc. Has $994,000 Holdings in International Paper (NYSE:IP)

Wesbanco Bank Inc. increased its stake in shares of International Paper (NYSE:IP) by 11.7% during the third quarter, HoldingsChannel.com reports. The fund owned 20,352 shares of the basic materials company’s stock after purchasing an additional 2,134 shares during the period. Wesbanco Bank Inc.’s holdings in International Paper were worth $994,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in International Paper during the second quarter valued at approximately $26,000. MCF Advisors LLC boosted its holdings in shares of International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the period. Crewe Advisors LLC acquired a new position in International Paper in the 1st quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in International Paper in the 2nd quarter worth $37,000. Finally, Hilltop National Bank lifted its position in International Paper by 58.9% during the 2nd quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 415 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Stock Down 0.7 %

IP opened at $47.73 on Wednesday. The company has a market capitalization of $16.58 billion, a P/E ratio of 97.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The firm’s fifty day moving average price is $47.79 and its two-hundred day moving average price is $44.03. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.88%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IP. Truist Financial raised their price target on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company boosted their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.46.

Insider Activity at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now directly owns 41,002 shares in the company, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock valued at $905,294 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

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.