Plimoth Trust Co. LLC Sells 273 Shares of International Paper (NYSE:IP)

Plimoth Trust Co. LLC trimmed its holdings in shares of International Paper (NYSE:IP) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,379 shares of the basic materials company’s stock after selling 273 shares during the period. Plimoth Trust Co. LLC’s holdings in International Paper were worth $318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the period. MCF Advisors LLC increased its holdings in International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the last quarter. Crewe Advisors LLC bought a new stake in International Paper in the 1st quarter valued at about $29,000. Assetmark Inc. lifted its holdings in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in International Paper during the fourth quarter valued at about $37,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IP shares. Truist Financial increased their target price on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus raised 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. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Royal Bank of Canada upped their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus began coverage on shares of International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Three 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. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average price target of $50.21.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $44.58, for a total transaction of $26,748.00. Following the transaction, the director now directly owns 45,479 shares of the company’s stock, valued at $2,027,453.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 3,600 shares of company stock worth $161,100 in the last 90 days. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.5 %

NYSE:IP traded down $0.23 during trading hours on Thursday, reaching $47.97. The company’s stock had a trading volume of 2,197,284 shares, compared to its average volume of 5,646,839. The firm has a 50-day simple moving average of $45.37 and a 200-day simple moving average of $40.70. 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 1 year low of $31.76 and a 1 year high of $48.30. The firm has a market capitalization of $16.66 billion, a price-to-earnings ratio of 97.89 and a beta of 1.06.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Research analysts expect that International Paper will post 1.64 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.86%. International Paper’s payout ratio is presently 377.55%.

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.