International Paper (NYSE:IP) Holdings Lowered by Palouse Capital Management Inc.

Palouse Capital Management Inc. decreased its position in shares of International Paper (NYSE:IP) by 96.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,920 shares of the basic materials company’s stock after selling 50,554 shares during the quarter. Palouse Capital Management Inc.’s holdings in International Paper were worth $94,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in International Paper in the second quarter worth approximately $119,012,000. Samlyn Capital LLC bought a new position in shares of International Paper in the second quarter valued at $88,966,000. Finally, Diamond Hill Capital Management Inc. acquired a new stake in shares of International Paper during the second quarter worth $81,187,000. 81.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IP has been the topic of several recent analyst reports. Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Royal Bank of Canada raised their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Truist Financial lifted their price target on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $50.46.

International Paper Stock Down 0.3 %

Shares of IP stock traded down $0.12 on Monday, hitting $46.66. The company’s stock had a trading volume of 1,581,778 shares, compared to its average volume of 5,268,926. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 95.47 and a beta of 1.04. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.68. The firm’s fifty day moving average price is $47.94 and its 200-day moving average price is $44.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.96%. International Paper’s payout ratio is presently 377.55%.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the sale, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $934,142 in the last quarter. 0.55% of the stock is currently owned by company 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.