International Paper (NYSE:IP) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company cut its holdings in shares of International Paper (NYSE:IP) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,853 shares of the basic materials company’s stock after selling 781 shares during the period. Romano Brothers AND Company’s holdings in International Paper were worth $3,315,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of International Paper by 4,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 418,133 shares of the basic materials company’s stock valued at $20,426,000 after acquiring an additional 409,485 shares in the last quarter. Courier Capital LLC purchased a new stake in shares of International Paper in the third quarter valued at $225,000. BetterWealth LLC acquired a new stake in shares of International Paper in the third quarter worth $220,000. Greenleaf Trust grew its holdings in shares of International Paper by 13.6% during the third quarter. Greenleaf Trust now owns 8,452 shares of the basic materials company’s stock valued at $413,000 after buying an additional 1,009 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in International Paper by 10.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 5,799 shares of the basic materials company’s stock valued at $284,000 after buying an additional 551 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IP shares. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Truist Financial upped their price objective on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus raised shares of 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. Finally, 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 note on Thursday, July 25th. Three investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.46.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated 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 directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total value of $27,756.00. Following the sale, the director now owns 41,602 shares of the company’s stock, valued at $1,924,508.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $934,142 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

International Paper Trading Up 3.2 %

Shares of NYSE:IP opened at $49.04 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The stock’s 50-day moving average is $48.10 and its 200-day moving average is $44.35. The company has a market cap of $17.03 billion, a P/E ratio of 100.08 and a beta of 1.04. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates 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 was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Equities research analysts predict that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.77%. International Paper’s dividend 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.