Transamerica Financial Advisors Inc. Acquires Shares of 2,211 International Paper (NYSE:IP)

Transamerica Financial Advisors Inc. acquired a new stake in International Paper (NYSE:IP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,211 shares of the basic materials company’s stock, valued at approximately $108,000.

Several other large investors also recently bought and sold shares of IP. B. Riley Wealth Advisors Inc. boosted its stake in shares of International Paper by 14.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 47,230 shares of the basic materials company’s stock worth $1,843,000 after buying an additional 6,056 shares during the period. Comerica Bank boosted its stake in shares of International Paper by 23.6% during the first quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock worth $6,110,000 after buying an additional 29,904 shares during the period. Wahed Invest LLC boosted its stake in shares of International Paper by 15.4% during the first quarter. Wahed Invest LLC now owns 6,819 shares of the basic materials company’s stock worth $266,000 after buying an additional 910 shares during the period. Swedbank AB acquired a new stake in shares of International Paper during the first quarter worth about $4,490,000. Finally, PGGM Investments acquired a new stake in shares of International Paper during the first quarter worth about $274,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,440 shares of company stock valued at $505,070 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BNP Paribas cut shares of 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average price target of $51.54.

International Paper Trading Down 1.2 %

Shares of International Paper stock opened at $58.38 on Thursday. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market cap of $20.28 billion, a PE ratio of 49.90 and a beta of 1.02. The company has a 50-day moving average of $52.02 and a two-hundred day moving average of $47.76.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that International Paper will post 1.22 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. 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 dividend on an annualized basis and a dividend yield of 3.17%. International Paper’s dividend payout ratio (DPR) is 158.12%.

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.