AE Wealth Management LLC Trims Stock Holdings in International Paper (NYSE:IP)

AE Wealth Management LLC trimmed its holdings in International Paper (NYSE:IP) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 442,286 shares of the basic materials company’s stock after selling 31,350 shares during the period. AE Wealth Management LLC owned approximately 0.13% of International Paper worth $19,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp grew its position 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 valued at $25,000 after purchasing an additional 475 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of International Paper during the 2nd quarter valued at $26,000. MCF Advisors LLC grew its position in shares of International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of International Paper during the 1st quarter valued at $29,000. Finally, Assetmark Inc. grew 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 valued at $31,000 after purchasing an additional 649 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’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 transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $927,956 over the last three months. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

International Paper stock opened at $49.98 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $17.36 billion, a PE ratio of 102.00 and a beta of 1.04. The firm has a fifty day simple moving average of $46.90 and a two-hundred day simple moving average of $42.60. International Paper has a twelve month low of $31.76 and a twelve month high of $50.68.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. Research analysts expect that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is presently 377.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Royal Bank of Canada lifted their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Finally, Truist Financial lifted their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average target price of $50.21.

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.