D.A. Davidson & CO. Sells 5,003 Shares of International Paper (NYSE:IP)

D.A. Davidson & CO. lessened its stake in International Paper (NYSE:IP) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 139,288 shares of the basic materials company’s stock after selling 5,003 shares during the period. D.A. Davidson & CO.’s holdings in International Paper were worth $6,804,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IP. B. Riley Wealth Advisors Inc. grew its position in International Paper by 14.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 47,230 shares of the basic materials company’s stock worth $1,843,000 after purchasing an additional 6,056 shares in the last quarter. Comerica Bank boosted its stake in shares of International Paper by 23.6% in the 1st quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock worth $6,110,000 after buying an additional 29,904 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of International Paper by 15.4% in the first quarter. Wahed Invest LLC now owns 6,819 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 910 shares in the last quarter. Swedbank AB purchased a new stake in shares of International Paper during the first quarter valued at approximately $4,490,000. Finally, PGGM Investments purchased a new stake in shares of International Paper during the first quarter valued at approximately $274,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $58.38 on Thursday. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 49.90 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 firm has a 50-day moving average price of $52.02 and a 200-day moving average price of $47.76. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36.

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

International Paper Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial restated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

Insider Buying and Selling at International Paper

In related news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 16,788 shares in the company, valued at $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares in the company, valued at $2,120,891.55. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,440 shares of company stock valued at $505,070 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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.