True Freedom Investing LLC Buys 158,595 Shares of International Paper Company $IP

True Freedom Investing LLC purchased a new stake in shares of International Paper Company (NYSE:IP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 158,595 shares of the basic materials company’s stock, valued at approximately $5,261,000.

Other large investors have also recently bought and sold shares of the company. Stephens Inc. AR lifted its stake in International Paper by 1.3% in the 1st quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock worth $853,000 after acquiring an additional 298 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of International Paper by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company’s stock worth $523,000 after purchasing an additional 302 shares in the last quarter. Ranch Capital Advisors Inc. boosted its holdings in shares of International Paper by 0.8% during the first quarter. Ranch Capital Advisors Inc. now owns 45,785 shares of the basic materials company’s stock worth $1,635,000 after purchasing an additional 364 shares during the period. Arvest Bank Trust Division boosted its holdings in shares of International Paper by 1.2% during the first quarter. Arvest Bank Trust Division now owns 41,480 shares of the basic materials company’s stock worth $1,481,000 after purchasing an additional 509 shares during the period. Finally, GAMMA Investing LLC grew its position in International Paper by 8.8% during the second quarter. GAMMA Investing LLC now owns 6,382 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 517 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Up 0.1%

NYSE IP opened at $36.40 on Monday. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of -5.55, a PEG ratio of 5.38 and a beta of 0.97. The stock’s 50 day moving average is $34.96 and its two-hundred day moving average is $37.43. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. International Paper’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) EPS. Equities analysts forecast that International Paper Company will post 1.13 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio is currently -28.20%.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on International Paper from $62.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial restated a “buy” rating and set a $39.00 price target (down from $41.00) on shares of International Paper in a report on Thursday. Argus reiterated a “buy” rating and issued a $45.00 price objective on shares of International Paper in a report on Thursday, September 24th. UBS Group reduced their price target on International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Bank of America reissued a “buy” rating on shares of International Paper in a report on Thursday. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $45.44.

Insider Activity

In related news, VP William Hamic sold 24,500 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the sale, the vice president directly owned 106,952 shares in the company, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

International Paper Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.