Empowered Funds LLC Boosts Position in International Paper (NYSE:IP)

Empowered Funds LLC raised its stake in shares of International Paper (NYSE:IP) by 49.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,628 shares of the basic materials company’s stock after buying an additional 14,178 shares during the quarter. Empowered Funds LLC’s holdings in International Paper were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Empirical Finance LLC boosted its position 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 valued at $599,000 after purchasing an additional 224 shares in the last quarter. Vectors Research Management LLC acquired a new stake in shares of International Paper in the third quarter valued at about $224,000. CIBC Asset Management Inc raised its holdings in International Paper by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 50,703 shares of the basic materials company’s stock valued at $2,477,000 after acquiring an additional 3,947 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 314 shares during the period. Finally, Lifeworks Advisors LLC grew its holdings in shares of International Paper by 10.9% during the 3rd quarter. Lifeworks Advisors LLC now owns 6,437 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 631 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of several recent research reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial reissued a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Performance

International Paper stock opened at $58.84 on Thursday. The company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 50.29 and a beta of 1.02. International Paper has a 12-month low of $32.21 and a 12-month high of $60.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm’s fifty day moving average price is $51.01 and its 200 day moving average price is $47.05.

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

International Paper Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

Insider Transactions at International Paper

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated 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 directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,440 shares of company stock worth $944,540. 0.55% of the stock is currently owned by company insiders.

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.