Cooper Financial Group Sells 829 Shares of International Paper (NYSE:IP)

Cooper Financial Group cut its stake in International Paper (NYSE:IPFree Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,234 shares of the basic materials company’s stock after selling 829 shares during the quarter. Cooper Financial Group’s holdings in International Paper were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd lifted its stake in shares of International Paper by 2.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 29,040 shares of the basic materials company’s stock worth $1,133,000 after purchasing an additional 730 shares during the period. Czech National Bank grew its position in shares of International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after acquiring an additional 295 shares during the period. Mather Group LLC. bought a new stake in shares of International Paper during the 1st quarter valued at $89,000. Tompkins Financial Corp increased its stake in shares of International Paper by 148.1% in the 1st quarter. Tompkins Financial Corp now owns 3,350 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its position in International Paper by 2.0% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 111,309 shares of the basic materials company’s stock valued at $4,343,000 after purchasing an additional 2,198 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 3,600 shares of company stock valued at $144,744 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the subject of a number of analyst reports. Truist Financial upped their price target on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.71.

Get Our Latest Research Report on IP

International Paper Price Performance

Shares of IP traded down $0.47 during midday trading on Friday, hitting $46.08. 6,168,675 shares of the company traded hands, compared to its average volume of 4,584,647. International Paper has a 52 week low of $30.23 and a 52 week high of $46.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The firm has a 50 day moving average of $40.79 and a 200-day moving average of $38.08. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 94.04 and a beta of 1.06.

International Paper (NYSE:IPGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. On average, analysts forecast that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

About International Paper

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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