Romano Brothers AND Company Has $3.32 Million Position in International Paper (NYSE:IP)

Romano Brothers AND Company cut its holdings in International Paper (NYSE:IP) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,853 shares of the basic materials company’s stock after selling 781 shares during the quarter. Romano Brothers AND Company’s holdings in International Paper were worth $3,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IP. Wellington Management Group LLP lifted its holdings in 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 in the last quarter. Brookstone Capital Management lifted its stake in shares of International Paper by 1,759.4% during the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after acquiring an additional 237,837 shares during the period. Future Financial Wealth Managment LLC bought a new position in International Paper in the first quarter valued at about $64,000. Wealth Enhancement Advisory Services LLC increased its position in International Paper by 12.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 144,721 shares of the basic materials company’s stock worth $5,647,000 after purchasing an additional 15,667 shares during the period. Finally, 180 Wealth Advisors LLC raised its holdings in International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the transaction, the director now owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,440 shares of company stock worth $934,142. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IP shares. Truist Financial lifted their price target on shares of International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target 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. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Royal Bank of Canada increased their target price on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus initiated coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.46.

International Paper Price Performance

Shares of IP opened at $49.04 on Thursday. The stock has a 50 day simple moving average of $48.10 and a 200 day simple moving average of $44.35. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The firm has a market capitalization of $17.03 billion, a PE ratio of 100.08 and a beta of 1.04.

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

International Paper Announces Dividend

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 $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.77%. International Paper’s dividend payout ratio is currently 377.55%.

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.