4,677 Shares in International Paper (NYSE:IP) Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC bought a new stake in shares of International Paper (NYSE:IP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,677 shares of the basic materials company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IP. Wealth Enhancement Advisory Services LLC lifted its position in International Paper by 12.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 144,721 shares of the basic materials company’s stock valued at $5,647,000 after acquiring an additional 15,667 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of International Paper by 51.4% during the 1st quarter. Diversified Trust Co now owns 37,255 shares of the basic materials company’s stock valued at $1,454,000 after purchasing an additional 12,646 shares during the last quarter. AlphaMark Advisors LLC boosted its position in shares of International Paper by 10.4% in the 1st quarter. AlphaMark Advisors LLC now owns 3,718 shares of the basic materials company’s stock worth $145,000 after purchasing an additional 351 shares in the last quarter. Cullinan Associates Inc. grew its stake in International Paper by 18.7% during the 1st quarter. Cullinan Associates Inc. now owns 108,965 shares of the basic materials company’s stock worth $4,252,000 after buying an additional 17,185 shares during the last quarter. Finally, Norden Group LLC acquired a new position in International Paper during the 1st quarter valued at about $292,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Paper news, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now directly owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,440 shares of company stock valued at $934,142. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the subject of several recent analyst reports. Truist Financial boosted their price target on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target on the stock. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

International Paper Stock Down 0.1 %

Shares of IP stock opened at $48.57 on Monday. International Paper has a twelve month low of $31.76 and a twelve month high of $50.68. The stock has a market cap of $16.87 billion, a P/E ratio of 39.81 and a beta of 1.04. The stock has a 50 day moving average of $48.16 and a 200 day moving average of $44.54. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is currently 151.64%.

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.