Foster & Motley Inc. Sells 296 Shares of International Paper (NYSE:IP)

Foster & Motley Inc. reduced its stake in International Paper (NYSE:IP) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,774 shares of the basic materials company’s stock after selling 296 shares during the quarter. Foster & Motley Inc.’s holdings in International Paper were worth $282,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IP. Norden Group LLC bought a new stake in International Paper in the 1st quarter valued at $292,000. Janney Montgomery Scott LLC lifted its position in International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares in the last quarter. Empirical Finance LLC lifted its position in International Paper by 3.2% in the 1st quarter. Empirical Finance LLC now owns 13,219 shares of the basic materials company’s stock valued at $516,000 after acquiring an additional 413 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in International Paper by 47.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,046 shares of the basic materials company’s stock valued at $470,000 after acquiring an additional 3,854 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in International Paper in the 1st quarter valued at $465,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Down 0.7 %

International Paper stock opened at $58.41 on Friday. The firm has a market capitalization of $20.29 billion, a PE ratio of 49.92 and a beta of 1.02. The company’s 50-day moving average is $49.02 and its 200-day moving average is $45.46. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. 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 (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The company 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%. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Sell-side analysts anticipate that International Paper will post 1.44 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is 158.12%.

Analysts Set New Price Targets

Several brokerages have issued reports on IP. Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target 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 lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Three 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.96.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction 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. In the last 90 days, insiders sold 19,440 shares of company stock valued at $938,486. Company insiders own 0.55% of the company’s stock.

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.