Allspring Global Investments Holdings LLC Boosts Stock Position in International Paper (NYSE:IP)

Allspring Global Investments Holdings LLC boosted its stake in shares of International Paper (NYSE:IPGet Rating) by 45.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,660 shares of the basic materials company’s stock after buying an additional 14,165 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Paper were worth $1,447,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. WBI Investments Inc. boosted its holdings in International Paper by 3.0% during the 3rd quarter. WBI Investments Inc. now owns 25,539 shares of the basic materials company’s stock valued at $809,000 after acquiring an additional 736 shares during the period. Kwmg LLC lifted its holdings in International Paper by 7.1% in the 3rd quarter. Kwmg LLC now owns 91,818 shares of the basic materials company’s stock worth $2,911,000 after buying an additional 6,090 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in International Paper in the 3rd quarter worth approximately $81,000. Steel Peak Wealth Management LLC purchased a new stake in International Paper in the 3rd quarter worth approximately $244,000. Finally, Janney Montgomery Scott LLC lifted its holdings in International Paper by 6.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 250,611 shares of the basic materials company’s stock worth $7,944,000 after buying an additional 16,145 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on IP shares. StockNews.com started coverage on International Paper in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Royal Bank of Canada dropped their price objective on International Paper from $38.00 to $36.00 and set a “sector perform” rating for the company in a report on Friday, October 28th. Wells Fargo & Company dropped their price objective on International Paper from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, October 28th. Citigroup increased their price objective on International Paper from $34.00 to $36.00 in a report on Wednesday, January 4th. Finally, Truist Financial decreased their target price on International Paper from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, October 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.67.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Timothy S. Nicholls sold 7,500 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $33.66, for a total transaction of $252,450.00. Following the sale, the senior vice president now directly owns 101,897 shares in the company, valued at approximately $3,429,853.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Thomas J. Plath sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $36.00, for a total value of $72,000.00. Following the transaction, the senior vice president now directly owns 49,953 shares in the company, valued at approximately $1,798,308. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy S. Nicholls sold 7,500 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $33.66, for a total value of $252,450.00. Following the completion of the transaction, the senior vice president now owns 101,897 shares in the company, valued at $3,429,853.02. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

International Paper Stock Up 2.5 %

IP stock opened at $37.53 on Friday. International Paper has a twelve month low of $30.69 and a twelve month high of $50.23. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.50. The firm has a market cap of $13.35 billion, a PE ratio of 7.15 and a beta of 1.01. The business has a 50 day moving average of $36.27 and a 200 day moving average of $37.64.

International Paper (NYSE:IPGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.21). International Paper had a net margin of 9.14% and a return on equity of 15.47%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, research analysts forecast that International Paper will post 3.7 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 17th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, February 16th. This represents a $1.85 annualized dividend and a yield of 4.93%. International Paper’s dividend payout ratio is 35.24%.

International Paper Profile

(Get Rating)

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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