XML Financial LLC Has $2.96 Million Position in International Paper (NYSE:IP)

XML Financial LLC cut its stake in International Paper (NYSE:IP) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,641 shares of the basic materials company’s stock after selling 1,573 shares during the quarter. XML Financial LLC’s holdings in International Paper were worth $2,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in International Paper in the second quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in shares of International Paper in the 1st quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in International Paper in the second quarter worth $37,000. Eastern Bank acquired a new position in International Paper during the third quarter worth $40,000. Finally, Abich Financial Wealth Management LLC bought a new position in International Paper during the third quarter valued at about $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 1.8 %

Shares of IP opened at $57.38 on Friday. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The firm has a market capitalization of $19.93 billion, a price-to-earnings ratio of 49.04 and a beta of 1.02. The stock’s 50-day moving average price is $49.41 and its 200 day moving average price is $45.70. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted 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 net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 1.44 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is 158.12%.

Analyst Ratings Changes

A number of research analysts have recently commented on IP shares. Wells Fargo & Company increased their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Royal Bank of Canada boosted their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.96.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the 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 transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,440 shares of company stock valued at $938,486. 0.55% of the stock is currently owned by corporate insiders.

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.