Strategic Advisors LLC Sells 4,540 Shares of International Paper (NYSE:IP)

Strategic Advisors LLC lessened its stake in shares of International Paper (NYSE:IP) by 9.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,660 shares of the basic materials company’s stock after selling 4,540 shares during the period. Strategic Advisors LLC’s holdings in International Paper were worth $2,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC raised its position in International Paper by 677.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 1,355 shares during the last quarter. Creative Planning raised its position in International Paper by 6.6% in the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock valued at $3,562,000 after purchasing an additional 4,500 shares during the last quarter. Vontobel Holding Ltd. raised its position in International Paper by 90.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 10,969 shares of the basic materials company’s stock valued at $536,000 after purchasing an additional 5,207 shares during the last quarter. Bleakley Financial Group LLC raised its position in International Paper by 15.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,402 shares of the basic materials company’s stock valued at $264,000 after purchasing an additional 731 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in International Paper by 20.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,355 shares of the basic materials company’s stock valued at $2,069,000 after purchasing an additional 7,201 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on IP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America began coverage on International Paper in a research note on Thursday. They issued a “neutral” rating for the company. Finally, BNP Paribas cut 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, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Up 1.5 %

Shares of International Paper stock opened at $56.25 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The business has a fifty day simple moving average of $55.45 and a 200 day simple moving average of $52.30. The stock has a market cap of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts predict that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.29%. International Paper’s dividend payout ratio is presently 117.83%.

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.