Csenge Advisory Group Sells 319 Shares of International Paper (NYSE:IP)

Csenge Advisory Group cut its holdings in International Paper (NYSE:IP) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,018 shares of the basic materials company’s stock after selling 319 shares during the period. Csenge Advisory Group’s holdings in International Paper were worth $862,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IP. Brooklyn Investment Group bought a new position in International Paper in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in International Paper in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in International Paper in the 3rd quarter valued at $28,000. Versant Capital Management Inc boosted its holdings in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the period. Finally, City State Bank boosted its holdings in International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 350 shares during the period. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on IP. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.88.

International Paper Price Performance

Shares of NYSE:IP opened at $56.25 on Tuesday. The company’s fifty day moving average is $55.45 and its 200 day moving average is $52.34. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The stock has a market cap of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Research analysts anticipate that International Paper will post 2.89 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is 117.84%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.