International Assets Investment Management LLC Sells 174,161 Shares of International Paper (NYSE:IP)

International Assets Investment Management LLC decreased its stake in shares of International Paper (NYSE:IP) by 94.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,405 shares of the basic materials company’s stock after selling 174,161 shares during the period. International Assets Investment Management LLC’s holdings in International Paper were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares in the last quarter. CVA Family Office LLC purchased a new position in International Paper during the fourth quarter valued at approximately $27,000. Assetmark Inc. boosted its position in shares of International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 649 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of International Paper in the fourth quarter worth $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Paper during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Truist Financial raised their target price on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the sale, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 3,600 shares of company stock valued at $144,744. Insiders own 0.55% of the company’s stock.

International Paper Trading Up 2.7 %

Shares of IP stock opened at $47.32 on Tuesday. The company has a market cap of $16.44 billion, a PE ratio of 96.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $41.00 and its two-hundred day simple moving average is $38.17. International Paper has a 1 year low of $30.71 and a 1 year high of $47.40.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Research analysts predict that International Paper will post 1.85 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.91%. International Paper’s payout ratio is 377.55%.

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.