Symphony Financial Ltd. Co. Purchases 3,095 Shares of International Paper (NYSE:IP)

Symphony Financial Ltd. Co. boosted its stake in shares of International Paper (NYSE:IP) by 11.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,210 shares of the basic materials company’s stock after buying an additional 3,095 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in International Paper were worth $1,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in International Paper during the 2nd quarter worth approximately $26,000. MCF Advisors LLC lifted its position in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of International Paper during the first quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of International Paper during the second quarter worth $37,000. Finally, Eastern Bank purchased a new stake in shares of International Paper during the third quarter worth $40,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IP. Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Truist Financial raised their price objective on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus started coverage on International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Three 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 company. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average price target of $50.46.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the transaction, the director now directly owns 41,602 shares in the company, valued at approximately $1,924,508.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the completion of the sale, the director now owns 41,602 shares of the company’s stock, valued at approximately $1,924,508.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,440 shares of company stock worth $934,142. 0.55% of the stock is currently owned by corporate insiders.

International Paper Trading Up 1.3 %

Shares of IP stock opened at $47.52 on Wednesday. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The firm has a fifty day moving average price of $48.04 and a 200-day moving average price of $44.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 96.98 and a beta of 1.04.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. As a group, equities analysts predict that International Paper will post 1.55 earnings per share 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 given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Friday, November 15th. 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.