International Paper (NYSE:IP) Stock Holdings Decreased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in International Paper (NYSE:IP) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,009,143 shares of the basic materials company’s stock after selling 259,914 shares during the period. Dimensional Fund Advisors LP owned 1.73% of International Paper worth $259,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings 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 valued at $613,367,000 after buying an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Paper by 35.1% in the 1st 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 buying an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper in the 2nd quarter valued at about $119,012,000. Norges Bank acquired a new position in shares of International Paper in the 4th quarter valued at about $94,913,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of International Paper in the 2nd quarter valued at about $81,187,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $927,956 in the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Stock Up 0.1 %

IP stock opened at $49.54 on Thursday. International Paper has a 52 week low of $31.76 and a 52 week high of $50.55. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 101.10 and a beta of 1.04. The firm’s 50-day moving average is $46.76 and its two-hundred day moving average is $42.54. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 EPS. International Paper’s revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.73%. International Paper’s payout ratio is currently 377.55%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IP. Royal Bank of Canada boosted their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Truist Financial boosted their target price on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company boosted 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 note on Thursday, July 25th. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Finally, Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average price target of $50.21.

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.