International Paper (NYSE:IP) Stake Raised by Wesbanco Bank Inc.

Wesbanco Bank Inc. increased its holdings in International Paper (NYSE:IP) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,352 shares of the basic materials company’s stock after buying an additional 2,134 shares during the quarter. Wesbanco Bank Inc.’s holdings in International Paper were worth $994,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares in the last quarter. Bank of New York Mellon Corp lifted its position in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after purchasing an additional 8,132,332 shares during the period. Massachusetts Financial Services Co. MA bought a new position in International Paper during the 2nd quarter valued at $119,012,000. Samlyn Capital LLC acquired a new position in shares of International Paper during the 2nd quarter valued at $88,966,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of International Paper in the 2nd quarter worth $81,187,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the transaction, the director now owns 41,002 shares in the company, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,840 shares of company stock valued at $905,294 over the last three months. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IP. Truist Financial raised their target price on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus started coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.46.

International Paper Trading Down 0.7 %

NYSE IP opened at $47.73 on Wednesday. The firm’s 50 day moving average price is $47.79 and its two-hundred day moving average price is $44.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. 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 $16.58 billion, a price-to-earnings ratio of 97.41 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.88%. International Paper’s dividend payout ratio is 377.55%.

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.