International Paper (NYSE:IP) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in shares of International Paper (NYSE:IP) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,932 shares of the basic materials company’s stock after selling 369 shares during the period. Commerce Bank’s holdings in International Paper were worth $876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in International Paper during the 3rd quarter valued at about $28,000. Innealta Capital LLC acquired a new position in shares of International Paper during the second quarter valued at about $26,000. Eastern Bank purchased a new position in shares of International Paper in the 3rd quarter valued at approximately $40,000. Abich Financial Wealth Management LLC purchased a new position in shares of International Paper in the 3rd quarter valued at approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in International Paper in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 0.2 %

Shares of NYSE:IP opened at $59.32 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $32.51 and a 12-month high of $60.22. The business has a 50 day moving average of $51.45 and a two-hundred day moving average of $47.40. The company has a market capitalization of $20.61 billion, a PE ratio of 50.70 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that International Paper will post 1.22 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend 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 158.12%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent analyst reports. Truist Financial restated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $51.54.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now directly owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the business’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 owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,440 shares of company stock worth $944,540. 0.55% of the stock is owned by corporate insiders.

About International Paper

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.