Cedrus LLC Trims Holdings in International Paper (NYSE:IP)

Cedrus LLC lowered its stake in shares of International Paper (NYSE:IP) by 41.2% in the third quarter, HoldingsChannel.com reports. The firm owned 5,186 shares of the basic materials company’s stock after selling 3,634 shares during the period. Cedrus LLC’s holdings in International Paper were worth $253,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in shares of International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after buying an additional 17,516 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after purchasing an additional 199,687 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of International Paper in the first quarter valued at approximately $1,312,000. Brookstone Capital Management grew its holdings in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after purchasing an additional 237,837 shares in the last quarter. Finally, Comerica Bank increased its stake in International Paper by 23.6% during the 1st quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock worth $6,110,000 after buying an additional 29,904 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on IP shares. Wells Fargo & Company boosted their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. 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 objective for the company. Truist Financial boosted their price objective on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.46.

Insider Buying and Selling at International Paper

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 value 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 filing with the SEC, which can be accessed through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper 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 in the company, 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 link. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $934,142 in the last ninety days. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $46.78 on Monday. The company has a fifty day moving average of $47.94 and a two-hundred day moving average of $44.20. The company has a market capitalization of $16.25 billion, a PE ratio of 95.47 and a beta of 1.04. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $4.73 billion during 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%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. As a group, analysts expect that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. International Paper’s dividend payout ratio (DPR) 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.