Fifth Third Wealth Advisors LLC Increases Stake in International Paper (NYSE:IP)

Fifth Third Wealth Advisors LLC boosted its stake in shares of International Paper (NYSE:IP) by 95.7% in the 3rd quarter, Holdings Channel reports. The fund owned 9,395 shares of the basic materials company’s stock after buying an additional 4,595 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in International Paper were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in International Paper during the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in International Paper in the third quarter valued at approximately $28,000. Crewe Advisors LLC acquired a new stake in International Paper in the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper in the second quarter valued at approximately $37,000. Finally, Eastern Bank acquired a new stake in International Paper in the third quarter valued at approximately $40,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

NYSE:IP opened at $58.84 on Thursday. International Paper has a 52 week low of $32.21 and a 52 week high of $60.22. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $20.44 billion, a P/E ratio of 50.29 and a beta of 1.02. The stock’s fifty day moving average is $51.01 and its two-hundred day moving average is $47.05.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that International Paper will post 1.29 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.14%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 15.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the sale, the director now owns 37,745 shares in the company, valued at $2,120,891.55. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $944,540 over the last quarter. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Company 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.