International Paper (NYSE:IP) Position Lessened by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its stake in International Paper (NYSE:IP) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,040 shares of the basic materials company’s stock after selling 455 shares during the period. Prime Capital Investment Advisors LLC’s holdings in International Paper were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in IP. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the 3rd quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of International Paper during the second quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new position in shares of International Paper during the first quarter worth approximately $29,000. Eastern Bank acquired a new position in shares of International Paper during the third quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC bought a new position in International Paper in the 3rd quarter worth approximately $42,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of NYSE IP opened at $57.58 on Friday. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $50.15 and its 200 day simple moving average is $46.34.

International Paper (NYSE:IP) last issued 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. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the business posted $0.64 EPS. International Paper’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,840 shares of company stock valued at $910,826. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IP shares. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.