Richardson Financial Services Inc. Has $252,000 Holdings in International Paper (NYSE:IP)

Richardson Financial Services Inc. decreased its holdings in International Paper (NYSE:IP) by 17.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,840 shares of the basic materials company’s stock after selling 1,253 shares during the period. Richardson Financial Services Inc.’s holdings in International Paper were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings 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 purchasing an additional 475 shares in the last quarter. Innealta Capital LLC bought a new position in International Paper in the 2nd quarter valued at about $26,000. MCF Advisors LLC raised its position in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper during the 1st quarter worth approximately $29,000. Finally, Assetmark Inc. boosted its position in shares of International Paper by 309.0% during the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 649 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $49.54 on Thursday. The stock’s 50-day moving average is $46.76 and its 200-day moving average is $42.54. International Paper has a 1-year low of $31.76 and a 1-year high of $50.55. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a market cap of $17.21 billion, a P/E ratio of 101.10 and a beta of 1.04.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 net margin of 2.34% and a return on equity of 7.28%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. Equities research analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.73%. The ex-dividend date was Thursday, August 15th. International Paper’s dividend payout ratio is currently 377.55%.

Analysts Set New Price Targets

IP has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Argus raised 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, Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and raised their price target for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.21.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the sale, the director now owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,440 shares of company stock valued at $927,956. 0.55% of the stock is currently owned by company insiders.

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.