Argus Investors Counsel Inc. Sells 4,500 Shares of International Paper (NYSE:IP)

Argus Investors Counsel Inc. reduced its position in International Paper (NYSE:IP) by 21.3% during the fourth quarter, HoldingsChannel reports. The firm owned 16,590 shares of the basic materials company’s stock after selling 4,500 shares during the period. Argus Investors Counsel Inc.’s holdings in International Paper were worth $893,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in International Paper in the second quarter worth approximately $1,104,000. Czech National Bank increased its stake in shares of International Paper by 6.9% in the 3rd quarter. Czech National Bank now owns 70,762 shares of the basic materials company’s stock valued at $3,457,000 after acquiring an additional 4,575 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of International Paper by 51.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,971 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 1,015 shares during the period. Mather Group LLC. boosted its stake in International Paper by 199.0% during the third quarter. Mather Group LLC. now owns 12,097 shares of the basic materials company’s stock worth $591,000 after acquiring an additional 8,051 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in International Paper by 30.9% in the third quarter. Atomi Financial Group Inc. now owns 8,259 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 1,952 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 0.1 %

IP stock opened at $53.85 on Thursday. The stock’s 50 day moving average is $55.87 and its 200-day moving average is $51.84. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The firm has a market capitalization of $18.71 billion, a PE ratio of 34.30 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts expect that International Paper will post 3.01 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 yield of 3.44%. International Paper’s dividend payout ratio (DPR) is 117.84%.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated 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 transaction, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IP. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.88.

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.