International Paper (NYSE:IP) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in International Paper (NYSE:IP) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,500 shares of the basic materials company’s stock after selling 3,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in International Paper were worth $6,180,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IP. Innealta Capital LLC bought a new stake in International Paper in the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in shares of International Paper during the first quarter worth approximately $29,000. Eastern Bank bought a new position in International Paper in the 3rd quarter worth approximately $40,000. Abich Financial Wealth Management LLC acquired a new stake in International Paper in the 3rd quarter valued at approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in International Paper during the 2nd quarter valued at $37,000. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IP. Wells Fargo & Company raised their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Three 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. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average price target of $51.96.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the transaction, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $938,486 over the last three months. 0.55% of the stock is owned by corporate insiders.

International Paper Trading Up 2.2 %

International Paper stock opened at $58.83 on Thursday. International Paper has a one year low of $31.76 and a one year high of $59.52. The company’s fifty day moving average price is $49.02 and its two-hundred day moving average price is $45.46. The company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 50.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts forecast that International Paper will post 1.44 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 3.14%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is presently 158.12%.

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.