International Paper (NYSE:IP) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its holdings in International Paper (NYSE:IP) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,027 shares of the basic materials company’s stock after selling 1,373 shares during the period. Gulf International Bank UK Ltd’s holdings in International Paper were worth $1,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IP. Massmutual Trust Co. FSB ADV grew its position in International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after buying an additional 239 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of International Paper by 0.3% in 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 last quarter. Altrius Capital Management Inc raised its position in shares of International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares during the period. 180 Wealth Advisors LLC lifted its holdings in shares of International Paper by 4.2% during the second quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 327 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in shares of International Paper by 0.7% in the 3rd quarter. Stephens Inc. AR now owns 46,282 shares of the basic materials company’s stock valued at $2,261,000 after purchasing an additional 333 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on IP. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average price target of $51.96.

International Paper Trading Down 1.8 %

NYSE IP opened at $57.38 on Friday. The company has a market capitalization of $19.93 billion, a PE ratio of 49.04 and a beta of 1.02. International Paper has a 1-year low of $31.76 and a 1-year high of $59.52. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $49.41 and its 200-day simple moving average is $45.70.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.44 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $938,486 in the last 90 days. 0.55% of the stock is owned by insiders.

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.