Argent Trust Co Reduces Stake in International Paper (NYSE:IP)

Argent Trust Co decreased its stake in shares of International Paper (NYSE:IP) by 4.4% during the second quarter, HoldingsChannel reports. The firm owned 24,725 shares of the basic materials company’s stock after selling 1,135 shares during the quarter. Argent Trust Co’s holdings in International Paper were worth $1,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its position in shares of International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of International Paper by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after buying an additional 251 shares during the period. Czech National Bank increased its stake in shares of International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after acquiring an additional 295 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 318 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in International Paper by 10.4% during the first quarter. AlphaMark Advisors LLC now owns 3,718 shares of the basic materials company’s stock worth $145,000 after acquiring an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $927,956 over the last three months. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. 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 price objective on the stock. Truist Financial boosted their price target on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their target price 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. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Up 0.9 %

International Paper stock opened at $49.98 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The stock has a market cap of $17.36 billion, a P/E ratio of 102.00 and a beta of 1.04. The firm’s 50 day moving average price is $46.90 and its 200-day moving average price is $42.60. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, equities analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s payout ratio is 377.55%.

International Paper Company 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.