Bell Bank Sells 161,337 Shares of International Paper (NYSE:IP)

Bell Bank decreased its position in International Paper (NYSE:IP) by 93.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,925 shares of the basic materials company’s stock after selling 161,337 shares during the period. Bell Bank’s holdings in International Paper were worth $642,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of IP. Allianz Asset Management GmbH raised its position in shares of International Paper by 4.7% in the fourth quarter. Allianz Asset Management GmbH now owns 844,967 shares of the basic materials company’s stock worth $45,476,000 after buying an additional 37,951 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of International Paper during the 4th quarter valued at about $26,000. Handelsbanken Fonder AB grew its holdings in shares of International Paper by 6.0% during the fourth quarter. Handelsbanken Fonder AB now owns 15,238 shares of the basic materials company’s stock worth $820,000 after purchasing an additional 869 shares in the last quarter. Private Advisor Group LLC increased its position in shares of International Paper by 1.2% in the fourth quarter. Private Advisor Group LLC now owns 45,249 shares of the basic materials company’s stock worth $2,435,000 after purchasing an additional 524 shares during the last quarter. Finally, Prossimo Advisors LLC raised its stake in International Paper by 14.2% in the fourth quarter. Prossimo Advisors LLC now owns 11,802 shares of the basic materials company’s stock valued at $635,000 after purchasing an additional 1,466 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

International Paper Stock Performance

Shares of IP opened at $55.62 on Friday. International Paper has a one year low of $33.16 and a one year high of $60.36. The company has a 50-day simple moving average of $55.59 and a two-hundred day simple moving average of $52.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market capitalization of $19.32 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. International Paper’s payout ratio is 117.83%.

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.