Bill Few Associates Inc. Trims Position in International Paper (NYSE:IP)

Bill Few Associates Inc. lessened its holdings in shares of International Paper (NYSE:IP) by 19.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,803 shares of the basic materials company’s stock after selling 1,150 shares during the quarter. Bill Few Associates Inc.’s holdings in International Paper were worth $235,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Kapitalo Investimentos Ltda purchased a new position in shares of International Paper in the 3rd quarter worth $312,000. Creative Planning raised its position in shares of International Paper by 6.6% in the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock worth $3,562,000 after buying an additional 4,500 shares during the period. Wesbanco Bank Inc. raised its position in shares of International Paper by 11.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company’s stock worth $994,000 after buying an additional 2,134 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of International Paper in the 3rd quarter worth $88,000. Finally, Exchange Traded Concepts LLC raised its position in shares of 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 worth $76,000 after buying an additional 1,355 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the transaction, the director now directly owns 41,002 shares in the company, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock worth $905,294 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on IP shares. Truist Financial raised their price objective on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Royal Bank of Canada raised their target price on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their target price 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. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.46.

International Paper Stock Down 0.7 %

NYSE:IP opened at $47.73 on Wednesday. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 97.41 and a beta of 1.04. International Paper has a one year low of $31.76 and a one year high of $50.68. The stock has a 50-day simple moving average of $47.79 and a 200 day simple moving average of $44.03. 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 (NYSE:IP) last posted 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 during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. Sell-side analysts predict that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

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 paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.88%. International Paper’s payout ratio is currently 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.