Park Avenue Securities LLC Sells 3,881 Shares of International Paper (NYSE:IP)

Park Avenue Securities LLC reduced its position in shares of International Paper (NYSE:IP) by 7.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,123 shares of the basic materials company’s stock after selling 3,881 shares during the quarter. Park Avenue Securities LLC’s holdings in International Paper were worth $2,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new stake in International Paper during the 4th quarter worth about $37,000. Janney Montgomery Scott LLC grew its position in shares of International Paper by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after buying an additional 17,516 shares during the period. Wellington Management Group LLP grew its position in shares of International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after buying an additional 199,687 shares during the period. Franklin Resources Inc. grew its position in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after buying an additional 4,960,005 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of International Paper during the 1st quarter worth about $1,312,000. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total value of $27,756.00. Following the sale, the director now owns 41,602 shares in the company, valued at approximately $1,924,508.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 3,600 shares of company stock worth $157,386. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Royal Bank of Canada boosted their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.96.

International Paper Stock Down 1.7 %

Shares of IP traded down $0.75 on Wednesday, hitting $44.28. The company’s stock had a trading volume of 5,066,178 shares, compared to its average volume of 5,790,554. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $45.04 and its 200-day moving average price is $39.91. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $47.40. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 91.90 and a beta of 1.06.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities research analysts expect that International Paper will post 1.64 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.18%. The ex-dividend date is Thursday, August 15th. International Paper’s payout ratio is 377.55%.

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.