Inspire Advisors LLC Lowers Holdings in International Paper (NYSE:IP)

Inspire Advisors LLC trimmed its holdings in International Paper (NYSE:IP) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,162 shares of the basic materials company’s stock after selling 1,099 shares during the quarter. Inspire Advisors LLC’s holdings in International Paper were worth $568,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in IP. Price T Rowe Associates Inc. MD boosted its stake in shares of International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after acquiring an additional 5,492,035 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares in the last quarter. Norges Bank purchased a new stake in shares of International Paper during the 4th quarter worth about $94,913,000. Finally, Victory Capital Management Inc. boosted its stake in shares of International Paper by 0.5% during the 2nd quarter. Victory Capital Management Inc. now owns 775,079 shares of the basic materials company’s stock worth $33,445,000 after acquiring an additional 3,770 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Up 1.6 %

Shares of NYSE IP opened at $48.70 on Friday. The company has a 50 day simple moving average of $46.35 and a 200-day simple moving average of $42.24. The company has a market capitalization of $16.92 billion, a P/E ratio of 99.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 1 year low of $31.76 and a 1 year high of $49.39.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (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 net margin of 2.34% and a return on equity of 7.28%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. On average, equities research analysts predict that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio is currently 377.55%.

Insider Transactions at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The disclosure for this sale can be found here. Insiders sold 18,840 shares of company stock worth $898,268 in the last 90 days. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IP. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Truist Financial upped their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $50.21.

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.