Independent Advisor Alliance Sells 442 Shares of International Paper (NYSE:IP)

Independent Advisor Alliance cut its holdings in shares of International Paper (NYSE:IP) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,916 shares of the basic materials company’s stock after selling 442 shares during the period. Independent Advisor Alliance’s holdings in International Paper were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of International Paper by 133.7% in the second 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 acquiring an additional 8,132,332 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% in the 3rd 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. Charles Schwab Investment Management Inc. raised its holdings in shares of International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after buying an additional 9,774 shares during the period. Massachusetts Financial Services Co. MA increased its stake in International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in International Paper during the 2nd quarter worth approximately $88,966,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IP shares. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial reissued a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.54.

Insider Activity at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares in the company, valued at $882,996.40. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,440 shares of company stock valued at $505,070. 0.55% of the stock is owned by corporate insiders.

International Paper Price Performance

NYSE IP opened at $59.10 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $51.84 and a two-hundred day moving average price of $47.69. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 50.51 and a beta of 1.02. International Paper has a 52 week low of $32.51 and a 52 week high of $60.36.

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, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given 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 3.13%. International Paper’s payout ratio is 158.12%.

International Paper 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.