Kwmg LLC Cuts Position in International Paper (NYSE:IP)

Kwmg LLC lowered its position in shares of International Paper (NYSE:IP) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 139,346 shares of the basic materials company’s stock after selling 917 shares during the quarter. Kwmg LLC’s holdings in International Paper were worth $6,807,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in International Paper during the second quarter valued at about $26,000. MCF Advisors LLC grew its position in International Paper by 1,094.7% during the 1st 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 last quarter. Crewe Advisors LLC purchased a new position in International Paper in the 1st quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Paper in the fourth quarter valued at approximately $37,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of International Paper during the second quarter valued at approximately $37,000. 81.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s 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 sale, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’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 directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,440 shares of company stock worth $931,502. Insiders own 0.55% of the company’s stock.

International Paper Stock Down 1.7 %

IP stock traded down $0.84 during midday trading on Monday, hitting $47.69. The stock had a trading volume of 6,402,482 shares, compared to its average volume of 5,327,266. 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 firm has a market cap of $16.56 billion, a price-to-earnings ratio of 97.02 and a beta of 1.04. The business has a 50-day moving average of $47.54 and a two-hundred day moving average of $43.62. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share 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 firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IP. Stifel Nicolaus started coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price on the stock. Wells Fargo & Company upped their price objective 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. Royal Bank of Canada raised their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three investment 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 stock. According to MarketBeat, the stock has a consensus 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.