Toronto Dominion Bank Raises Position in International Paper (NYSE:IP)

Toronto Dominion Bank increased its position in shares of International Paper (NYSE:IP) by 15.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,836 shares of the basic materials company’s stock after purchasing an additional 14,962 shares during the period. Toronto Dominion Bank’s holdings in International Paper were worth $5,610,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IP. First Horizon Advisors Inc. raised its stake in shares of International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares in the last quarter. Empirical Finance LLC grew its holdings in International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 224 shares during the period. Massmutual Trust Co. FSB ADV raised its position in International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 239 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after acquiring an additional 246 shares during the period. Finally, Altrius Capital Management Inc lifted its holdings in International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 1.2 %

Shares of International Paper stock opened at $55.54 on Friday. The firm has a market cap of $19.30 billion, a PE ratio of 47.47 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The business’s fifty day moving average is $53.95 and its two-hundred day moving average is $48.99.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts anticipate that International Paper will post 1.18 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared 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. This represents a $1.85 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,600 shares of company stock valued at $188,592 over the last quarter. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IP shares. Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

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.