Greenhaven Associates Inc. Trims Stake in International Paper (NYSE:IP)

Greenhaven Associates Inc. lessened its holdings in International Paper (NYSE:IP) by 99.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,288 shares of the basic materials company’s stock after selling 5,368,597 shares during the period. International Paper accounts for approximately 0.0% of Greenhaven Associates Inc.’s holdings, making the stock its 17th largest holding. Greenhaven Associates Inc.’s holdings in International Paper were worth $1,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IP. Jones Financial Companies Lllp boosted its stake 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 worth $25,000 after buying an additional 475 shares during the period. Innealta Capital LLC purchased a new position in shares of International Paper during the 2nd quarter worth approximately $26,000. MCF Advisors LLC increased its holdings in 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 purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC purchased a new stake in International Paper in the first quarter valued at approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in International Paper during the fourth quarter worth $37,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares in the company, valued at $792,729.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $931,502 over the last ninety days. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IP. Stifel Nicolaus initiated coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Truist Financial raised their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada increased their target price 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. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Trading Down 2.2 %

NYSE IP opened at $48.11 on Thursday. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The firm has a 50 day moving average of $47.48 and a two-hundred day moving average of $43.43. 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 stock has a market capitalization of $16.71 billion, a PE ratio of 98.17 and a beta of 1.04.

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, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. As a group, research analysts expect that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Thursday, August 15th. 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.