Inspire Investing LLC Has $344,000 Stock Position in International Paper (NYSE:IP)

Inspire Investing LLC lowered its position in shares of International Paper (NYSE:IP) by 41.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,978 shares of the basic materials company’s stock after selling 5,629 shares during the quarter. Inspire Investing LLC’s holdings in International Paper were worth $344,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Retirement Systems of Alabama boosted its position in International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after acquiring an additional 246 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of International Paper by 27.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 251 shares during the period. Czech National Bank grew its position in International Paper by 0.5% during the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 295 shares in the last quarter. Altrius Capital Management Inc increased its stake in International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after buying an additional 296 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in International Paper by 4.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction that occurred on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $882,996.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $927,956 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Truist Financial upped their target price on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. 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 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Up 0.4 %

Shares of IP stock opened at $48.64 on Wednesday. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The company has a market cap of $16.89 billion, a PE ratio of 99.27 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $47.15 and its two-hundred day moving average is $42.96.

International Paper (NYSE:IP) last posted 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 business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. Equities analysts predict that International Paper will post 1.55 EPS for the current 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 paid a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.80%. 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.