Toronto Dominion Bank Raises Holdings in International Paper (NYSE:IP)

Toronto Dominion Bank grew its stake in International Paper (NYSE:IP) by 15.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 114,836 shares of the basic materials company’s stock after buying an additional 14,962 shares during the quarter. Toronto Dominion Bank’s holdings in International Paper were worth $5,610,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in International Paper in the third quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of International Paper in the 2nd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper during the third quarter worth $28,000. Finally, Eastern Bank purchased a new position in International Paper in the third quarter valued at $40,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 3,600 shares of company stock valued at $188,592 over the last quarter. 0.55% of the stock is currently owned by insiders.

International Paper Price Performance

Shares of NYSE IP opened at $55.54 on Friday. The stock has a market cap of $19.30 billion, a P/E ratio of 47.47 and a beta of 1.02. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock has a 50 day moving average of $53.95 and a two-hundred day moving average of $48.99. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, research analysts forecast that International Paper will post 1.18 earnings per share for the current year.

International Paper Announces Dividend

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 paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IP shares. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.54.

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.