Heartland Bank & Trust Co Acquires New Shares in International Paper Company $IP

Heartland Bank & Trust Co acquired a new stake in International Paper Company (NYSE:IP) in the 2nd quarter, Holdings Channel reports. The firm acquired 6,500 shares of the basic materials company’s stock, valued at approximately $304,000.

Other hedge funds have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. increased its position in International Paper by 2.0% during the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock worth $751,000 after buying an additional 282 shares in the last quarter. Spire Wealth Management increased its position in International Paper by 2,343.9% during the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company’s stock worth $86,000 after buying an additional 1,547 shares in the last quarter. Consolidated Planning Corp purchased a new position in International Paper during the second quarter worth $317,000. MBB Public Markets I LLC purchased a new position in International Paper during the first quarter worth $313,000. Finally, Alliancebernstein L.P. increased its position in International Paper by 47.0% during the first quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company’s stock worth $29,526,000 after buying an additional 176,991 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IP. Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Truist Financial dropped their price target on International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company raised their price target on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of International Paper in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.46.

International Paper Price Performance

Shares of International Paper stock opened at $45.65 on Tuesday. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The stock has a market capitalization of $24.10 billion, a P/E ratio of -456.50, a PEG ratio of 0.52 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $47.17 and its 200 day moving average price is $47.98.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business posted $0.55 EPS. International Paper’s revenue was up 42.9% compared to the same quarter last year. As a group, research analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.1%. International Paper’s payout ratio is currently -1,850.00%.

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.