International Paper (NYSE:IP) Stock Position Lowered by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise reduced its position in shares of International Paper (NYSE:IP) by 83.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,104 shares of the basic materials company’s stock after selling 41,583 shares during the period. Banque Cantonale Vaudoise’s holdings in International Paper were worth $396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empirical Finance LLC lifted its position in shares of International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the last quarter. Retirement Systems of Alabama boosted its position 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 valued at $3,306,000 after purchasing an additional 246 shares during the period. 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 worth $4,854,000 after purchasing an additional 296 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in International Paper by 5.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after buying an additional 314 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. This trade represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $944,540 in the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of IP stock opened at $59.31 on Friday. The firm has a market cap of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a fifty-two week low of $32.33 and a fifty-two week high of $60.22. The stock’s 50-day moving average is $51.24 and its two-hundred day moving average is $47.13.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. Analysts predict that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business 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 dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.12%. International Paper’s payout ratio is currently 158.12%.

Wall Street Analyst Weigh In

IP has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. Truist Financial restated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Argus upgraded 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. Finally, Wells Fargo & Company increased their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.54.

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.