Nisa Investment Advisors LLC Sells 9,100 Shares of International Paper (NYSE:IP)

Nisa Investment Advisors LLC trimmed its position in shares of International Paper (NYSE:IP) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 140,443 shares of the basic materials company’s stock after selling 9,100 shares during the quarter. Nisa Investment Advisors LLC’s holdings in International Paper were worth $6,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of International Paper during the second quarter valued at approximately $119,012,000. Samlyn Capital LLC bought a new stake in shares of International Paper in the 2nd quarter worth approximately $88,966,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of International Paper in the 2nd quarter worth approximately $81,187,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IP. Royal Bank of Canada lifted their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” 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 price target for the company in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Truist Financial raised their price objective on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus assumed coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

International Paper Stock Performance

Shares of NYSE IP opened at $55.54 on Friday. The firm’s 50-day moving average price is $48.35 and its 200-day moving average price is $44.79. International Paper has a 52-week low of $31.76 and a 52-week high of $56.26. The company has a market cap of $19.29 billion, a PE ratio of 45.52 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. As a group, analysts anticipate that International Paper will post 1.53 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is presently 151.64%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the transaction, the director now owns 39,802 shares in the company, valued at $1,969,402.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,840 shares of company stock valued at $906,386. 0.55% of the stock is owned by company insiders.

About International Paper

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.