Ashton Thomas Securities LLC Purchases New Holdings in International Paper (NYSE:IP)

Ashton Thomas Securities LLC acquired a new position in shares of International Paper (NYSE:IP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 579 shares of the basic materials company’s stock, valued at approximately $28,000.

A number of other institutional investors also recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of International Paper during the second quarter worth about $26,000. Crewe Advisors LLC bought a new position in International Paper during the 1st quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of International Paper in the 2nd quarter worth approximately $37,000. Eastern Bank bought a new stake in shares of International Paper in the 3rd quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of International Paper during the 3rd quarter valued at approximately $42,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at International Paper

In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock worth $910,826 over the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper Trading Up 1.0 %

Shares of IP stock opened at $56.93 on Friday. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52. The firm has a market capitalization of $19.78 billion, a PE ratio of 48.66 and a beta of 1.02. The stock has a fifty day moving average of $49.96 and a two-hundred day moving average of $46.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. As a group, research analysts expect that International Paper will post 1.24 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.25%. International Paper’s dividend payout ratio is presently 158.12%.

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.