Gentry Private Wealth LLC Sells 383 Shares of International Paper (NYSE:IP)

Gentry Private Wealth LLC lessened its stake in International Paper (NYSE:IP) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,482 shares of the basic materials company’s stock after selling 383 shares during the period. Gentry Private Wealth LLC’s holdings in International Paper were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IP. Daiwa Securities Group Inc. raised its position in International Paper by 1.1% in the third quarter. Daiwa Securities Group Inc. now owns 40,947 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 442 shares in the last quarter. Pitcairn Co. acquired a new position in International Paper in the third quarter worth about $3,170,000. KKM Financial LLC acquired a new position in International Paper in the third quarter worth about $211,000. Cerity Partners LLC raised its position in International Paper by 7.3% in the third quarter. Cerity Partners LLC now owns 38,050 shares of the basic materials company’s stock worth $1,859,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in International Paper by 53.8% in the third quarter. Raymond James Trust N.A. now owns 11,156 shares of the basic materials company’s stock worth $545,000 after purchasing an additional 3,902 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IP shares. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Argus raised 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. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Royal Bank of Canada raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.54.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 18,668 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,440 shares of company stock valued at $944,540. 0.55% of the stock is currently owned by insiders.

International Paper Stock Performance

Shares of International Paper stock opened at $59.32 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a market cap of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. The firm has a 50 day simple moving average of $51.45 and a 200 day simple moving average of $47.35. International Paper has a fifty-two week low of $32.51 and a fifty-two week high of $60.22.

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, beating analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during 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 quarter last year, the business posted $0.64 earnings per share. Sell-side 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 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. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

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.