Wedbush Securities Inc. Has $537,000 Holdings in International Paper (NYSE:IP)

Wedbush Securities Inc. trimmed its stake in International Paper (NYSE:IP) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,454 shares of the basic materials company’s stock after selling 638 shares during the period. Wedbush Securities Inc.’s holdings in International Paper were worth $537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IP. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 5,492,035 shares during the period. Bank of New York Mellon Corp increased its position in shares of 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 period. Franklin Resources Inc. raised its stake in shares of International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Norges Bank bought a new position in International Paper in the fourth quarter worth $94,913,000. Finally, ING Groep NV lifted its position in International Paper by 74.2% in the fourth quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock worth $29,952,000 after purchasing an additional 352,934 shares during the period. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In other news, 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 transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the firm’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 transaction, the vice president now owns 16,788 shares in the company, valued at $792,729.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,400 shares of company stock valued at $782,856. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of NYSE:IP opened at $47.94 on Friday. The business has a fifty day moving average of $46.23 and a 200-day moving average of $42.08. 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 twelve month low of $31.76 and a twelve month high of $49.24. The firm has a market cap of $16.65 billion, a PE ratio of 97.84 and a beta of 1.04.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share 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 firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company posted $0.59 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IP shares. Royal Bank of Canada raised 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. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Stifel Nicolaus started coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Truist Financial increased their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Three equities research 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. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

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.