Sunbelt Securities Inc. Sells 4,702 Shares of International Paper (NYSE:IP)

Sunbelt Securities Inc. lowered its position in International Paper (NYSE:IP) by 19.6% in the 1st quarter, Holdings Channel reports. The firm owned 19,233 shares of the basic materials company’s stock after selling 4,702 shares during the quarter. Sunbelt Securities Inc.’s holdings in International Paper were worth $750,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

IP has been the topic of a number of research analyst reports. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Wells Fargo & Company lifted their target price on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Truist Financial restated a “buy” rating and issued a $52.00 price objective on shares of International Paper in a report on Thursday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

International Paper Trading Down 7.2 %

Shares of NYSE:IP opened at $43.27 on Friday. The company has a market capitalization of $15.03 billion, a PE ratio of 88.27 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $30.78 and a 12-month high of $47.40. The business’s fifty day simple moving average is $41.44 and its 200-day simple moving average is $38.30.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.28%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s 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 completion of the sale, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,600 shares of company stock valued at $144,744 over the last 90 days. Insiders own 0.55% of the company’s stock.

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.