Bell Bank Has $8.46 Million Holdings in International Paper (NYSE:IP)

Bell Bank trimmed its holdings in shares of International Paper (NYSE:IP) by 13.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 173,262 shares of the basic materials company’s stock after selling 26,821 shares during the period. International Paper makes up 1.0% of Bell Bank’s investment portfolio, making the stock its 23rd largest holding. Bell Bank’s holdings in International Paper were worth $8,464,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in International Paper during the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the 3rd quarter worth $28,000. Crewe Advisors LLC bought a new stake in International Paper during the 1st quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in International Paper during the second quarter worth $37,000. Finally, Eastern Bank acquired a new position in shares of International Paper during the third quarter valued at about $40,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity

In other news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock worth $910,826 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

IP has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial reissued a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $51.54.

International Paper Trading Down 1.6 %

Shares of IP opened at $56.38 on Thursday. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The business has a 50-day moving average of $49.78 and a 200 day moving average of $46.20. The firm has a market cap of $19.59 billion, a P/E ratio of 48.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $4.70 billion. During the same period last year, the firm earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts forecast that International Paper will post 1.24 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is presently 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.