Altrius Capital Management Inc Sells 6,430 Shares of International Paper (NYSE:IP)

Altrius Capital Management Inc lessened its stake in International Paper (NYSE:IP) by 5.7% in the third quarter, HoldingsChannel reports. The fund owned 106,057 shares of the basic materials company’s stock after selling 6,430 shares during the period. Altrius Capital Management Inc’s holdings in International Paper were worth $5,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Diamond Hill Capital Management Inc. raised its position in International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Raymond James & Associates raised its position in International Paper by 29.6% during the 3rd quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock valued at $15,704,000 after purchasing an additional 73,367 shares during the last quarter. Comerica Bank raised its position in International Paper by 23.6% during the 1st quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock valued at $6,110,000 after purchasing an additional 29,904 shares during the last quarter. QRG Capital Management Inc. raised its position in International Paper by 3.8% during the 3rd quarter. QRG Capital Management Inc. now owns 279,288 shares of the basic materials company’s stock valued at $13,643,000 after purchasing an additional 10,260 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of International Paper by 9.2% during the 1st quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company’s stock worth $16,659,000 after acquiring an additional 35,857 shares during the period. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IP shares. Wells Fargo & Company upped their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Finally, Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Down 0.5 %

Shares of International Paper stock traded down $0.30 during midday trading on Friday, hitting $56.63. The company had a trading volume of 624,908 shares, compared to its average volume of 5,312,771. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $19.67 billion, a P/E ratio of 48.50 and a beta of 1.02. The company has a 50 day moving average of $50.15 and a 200 day moving average of $46.34. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.27%. International Paper’s dividend payout ratio is 158.12%.

Insider Buying and Selling at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of the 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 of the company’s stock, valued at $792,729.36. This represents a 22.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following 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 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,840 shares of company stock worth $910,826. Insiders own 0.55% of the company’s stock.

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.