Altrius Capital Management Inc Sells 6,430 Shares of International Paper (NYSE:IP)

Altrius Capital Management Inc reduced its holdings in shares of International Paper (NYSE:IP) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,057 shares of the basic materials company’s stock after selling 6,430 shares during the quarter. Altrius Capital Management Inc’s holdings in International Paper were worth $5,181,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the third quarter valued at $28,000. Innealta Capital LLC bought a new stake in shares of International Paper in the second quarter valued at $26,000. Crewe Advisors LLC bought a new stake in shares of International Paper in the first quarter valued at $29,000. Eastern Bank bought a new stake in shares of International Paper in the third quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of International Paper in the third quarter valued at $42,000. 81.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock valued at $910,826 over the last 90 days. Insiders own 0.55% of the company’s stock.

International Paper Price Performance

International Paper stock traded down $0.30 during midday trading on Friday, hitting $56.63. 624,908 shares of the company’s stock were exchanged, compared to its average volume of 5,312,771. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The stock has a 50-day moving average price of $50.15 and a two-hundred day moving average price of $46.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The company has a market cap of $19.67 billion, a P/E ratio of 48.50 and a beta of 1.02.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 1.29 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, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.27%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Analyst Ratings Changes

IP has been the topic of several research reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday. Royal Bank of Canada lifted their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.54.

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.