Cwm LLC Sells 448 Shares of International Paper (NYSE:IP)

Cwm LLC reduced its position in International Paper (NYSE:IP) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 15,900 shares of the basic materials company’s stock after selling 448 shares during the quarter. Cwm LLC’s holdings in International Paper were worth $777,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IP. Bank of New York Mellon Corp lifted its position in International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in International Paper during the second quarter valued at approximately $119,012,000. Samlyn Capital LLC bought a new stake in International Paper during the second quarter valued at approximately $88,966,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in International Paper during the second quarter valued at approximately $81,187,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Up 0.3 %

Shares of IP opened at $46.78 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. The firm has a 50 day moving average price of $47.94 and a 200-day moving average price of $44.12. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 95.47 and a beta of 1.04.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping 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 company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The company 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 3.95%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is 377.55%.

Wall Street Analyst Weigh In

IP has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their target price 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. Royal Bank of Canada boosted 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. Finally, Truist Financial boosted their price objective on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

Insider Buying and Selling

In related 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 value of $27,660.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on 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 approximately $2,433,296.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s 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 transaction, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $934,142 over the last three months. 0.55% of the stock is owned by company insiders.

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.