Abich Financial Wealth Management LLC Acquires New Holdings in International Paper (NYSE:IP)

Abich Financial Wealth Management LLC bought a new position in shares of International Paper (NYSE:IP) during the third quarter, Holdings Channel reports. The fund bought 853 shares of the basic materials company’s stock, valued at approximately $42,000.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in International Paper in the second quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in shares of International Paper in the 1st quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper in the 2nd quarter valued at $37,000. Eastern Bank acquired a new position in International Paper during the third quarter worth $40,000. Finally, Hilltop National Bank grew its holdings in shares of International Paper by 58.9% during the second quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock valued at $48,000 after buying an additional 415 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 0.8 %

Shares of NYSE IP traded down $0.39 during midday trading on Tuesday, hitting $48.25. 1,047,919 shares of the company traded hands, compared to its average volume of 5,237,318. 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 12-month low of $31.76 and a 12-month high of $50.68. The stock has a 50-day moving average price of $48.18 and a 200 day moving average price of $44.61. The firm has a market cap of $16.76 billion, a P/E ratio of 39.87 and a beta of 1.04.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.83%. International Paper’s dividend payout ratio is currently 151.64%.

Insider Activity at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $934,142 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on IP shares. Royal Bank of Canada increased their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Truist Financial raised their price target on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.46.

About International Paper

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.