Trinity Legacy Partners LLC Sells 2,224 Shares of International Paper (NYSE:IP)

Trinity Legacy Partners LLC lowered its position in International Paper (NYSE:IP) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,794 shares of the basic materials company’s stock after selling 2,224 shares during the period. Trinity Legacy Partners LLC’s holdings in International Paper were worth $2,882,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in International Paper by 208.3% in the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after buying an additional 475 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of International Paper during the second quarter valued at approximately $26,000. MCF Advisors LLC lifted its holdings in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the period. Crewe Advisors LLC purchased a new position in International Paper in the first quarter worth $29,000. Finally, Assetmark Inc. grew its stake in International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the period. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. 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. Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $50.21.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares in the company, valued at $1,843,383.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock valued at $927,956. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Up 0.4 %

Shares of IP stock opened at $48.64 on Wednesday. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 99.27 and a beta of 1.04. The company’s fifty day simple moving average is $47.15 and its two-hundred day simple moving average is $42.96. 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 released its quarterly earnings data 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. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio (DPR) is currently 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.