Asset Dedication LLC Reduces Position in International Paper (NYSE:IP)

Asset Dedication LLC decreased its holdings in International Paper (NYSE:IP) by 34.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,638 shares of the basic materials company’s stock after selling 846 shares during the quarter. Asset Dedication LLC’s holdings in International Paper were worth $80,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 239 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares during the last quarter. Czech National Bank lifted its stake in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 295 shares during the period. Altrius Capital Management Inc boosted its holdings in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its position in International Paper by 4.2% during the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after buying an additional 318 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the transaction, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,440 shares of company stock worth $934,142. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” 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 research report on Friday, June 28th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.46.

International Paper Trading Down 2.8 %

Shares of International Paper stock opened at $46.63 on Friday. International Paper has a twelve month low of $31.76 and a twelve month high of $50.68. 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 business has a 50-day moving average price of $47.90 and a 200-day moving average price of $44.07. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 95.16 and a beta of 1.04.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned $0.59 earnings per share. International Paper’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, November 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.