Sheaff Brock Investment Advisors LLC Decreases Holdings in International Paper (NYSE:IP)

Sheaff Brock Investment Advisors LLC lowered its stake in shares of International Paper (NYSE:IP) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,168 shares of the basic materials company’s stock after selling 208 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in International Paper were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IP. Bank of New York Mellon Corp lifted its holdings in International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of International Paper in the second quarter worth about $119,012,000. Diamond Hill Capital Management Inc. boosted its position in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Finally, Samlyn Capital LLC purchased a new stake in International Paper during the 2nd quarter valued at about $88,966,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 2.0 %

NYSE IP opened at $57.58 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market capitalization of $20.00 billion, a P/E ratio of 49.21 and a beta of 1.02. The firm’s 50-day moving average is $50.36 and its two-hundred day moving average is $46.58. International Paper has a 12 month low of $31.76 and a 12 month high of $59.52.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that International Paper will post 1.29 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.21%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Activity

In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,840 shares of company stock valued at $910,826. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

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.