Greenwood Capital Associates LLC Has $1.32 Million Stake in International Paper (NYSE:IP)

Greenwood Capital Associates LLC lowered its position in shares of International Paper (NYSE:IP) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,987 shares of the basic materials company’s stock after selling 300 shares during the period. Greenwood Capital Associates LLC’s holdings in International Paper were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in IP. Norden Group LLC purchased a new stake in shares of International Paper in the first quarter valued at about $292,000. Janney Montgomery Scott LLC increased its position in shares of International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares during the period. Choreo LLC raised its holdings in shares of International Paper by 7.2% during the first quarter. Choreo LLC now owns 8,387 shares of the basic materials company’s stock valued at $327,000 after acquiring an additional 564 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in International Paper during the 1st quarter valued at approximately $86,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of International Paper by 21.6% in the first quarter. Daiwa Securities Group Inc. now owns 37,201 shares of the basic materials company’s stock worth $1,452,000 after acquiring an additional 6,605 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IP shares. Truist Financial reiterated a “buy” rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a research note on Friday. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Argus upgraded 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. Stifel Nicolaus began coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Finally, Wells Fargo & Company upped 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average target price of $51.96.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $938,486 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Price Performance

Shares of IP opened at $56.60 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $31.76 and a twelve month high of $56.90. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 48.38 and a beta of 1.02. The firm’s fifty day simple moving average is $48.64 and its 200-day simple moving average is $45.21.

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 company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts forecast that International Paper will post 1.51 EPS 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. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is 158.12%.

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.