Integrated Wealth Concepts LLC Reduces Stock Holdings in International Paper (NYSE:IP)

Integrated Wealth Concepts LLC reduced its stake in shares of International Paper (NYSE:IP) by 45.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,420 shares of the basic materials company’s stock after selling 8,707 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in International Paper were worth $509,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in International Paper during the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in International Paper during the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in International Paper during the 3rd quarter worth approximately $28,000. Eastern Bank purchased a new stake in International Paper during the 3rd quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in International Paper during the 3rd quarter worth approximately $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 1.8 %

NYSE:IP opened at $54.76 on Wednesday. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The firm has a market capitalization of $19.02 billion, a P/E ratio of 46.80 and a beta of 1.02. 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 business has a 50 day simple moving average of $53.43 and a 200 day simple moving average of $48.74.

International Paper (NYSE:IP) last released its quarterly earnings data 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. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts predict that International Paper will post 1.22 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.38%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Activity at International Paper

In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. The trade was a 11.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,040 shares of company stock worth $304,004 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.