Apollon Wealth Management LLC Raises Stock Holdings in International Paper (NYSE:IP)

Apollon Wealth Management LLC boosted its position in shares of International Paper (NYSE:IP) by 16.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 9,643 shares of the basic materials company’s stock after acquiring an additional 1,334 shares during the quarter. Apollon Wealth Management LLC’s holdings in International Paper were worth $471,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in International Paper in the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper in the 3rd quarter valued at $28,000. Crewe Advisors LLC acquired a new stake in shares of International Paper in the first quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of International Paper during the second quarter worth $37,000. Finally, Eastern Bank purchased a new stake in International Paper in the third quarter valued at $40,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 2.0 %

Shares of NYSE IP opened at $57.58 on Friday. The firm has a market cap of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. The company’s 50-day simple moving average is $50.36 and its 200-day simple moving average is $46.50. 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 52-week low of $31.76 and a 52-week high of $59.52.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.21%. International Paper’s payout ratio is currently 158.12%.

Insiders Place Their Bets

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This represents a 22.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 15.30 % 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 $910,826 in the last 90 days. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.