1834 Investment Advisors Co. Sells 234 Shares of International Paper (NYSE:IP)

1834 Investment Advisors Co. reduced its holdings in shares of International Paper (NYSE:IP) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 11,500 shares of the basic materials company’s stock after selling 234 shares during the quarter. 1834 Investment Advisors Co.’s holdings in International Paper were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of IP. Norden Group LLC purchased a new position in International Paper in the first quarter valued at about $292,000. Janney Montgomery Scott LLC grew its holdings in International Paper by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the period. Daiwa Securities Group Inc. increased its position in International Paper by 21.6% in the first quarter. Daiwa Securities Group Inc. now owns 37,201 shares of the basic materials company’s stock worth $1,452,000 after buying an additional 6,605 shares during the last quarter. Empirical Finance LLC raised its stake in shares of International Paper by 3.2% in the first quarter. Empirical Finance LLC now owns 13,219 shares of the basic materials company’s stock valued at $516,000 after buying an additional 413 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of International Paper by 47.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,046 shares of the basic materials company’s stock valued at $470,000 after buying an additional 3,854 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 $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 is available through the SEC website. In related news, 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 sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares in the company, valued at $1,890,192.20. 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 90 days, insiders sold 19,440 shares of company stock valued at $938,486. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

International Paper Stock Performance

NYSE IP opened at $58.83 on Thursday. The company’s 50 day simple moving average is $49.02 and its two-hundred day simple moving average is $45.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52. The stock has a market capitalization of $20.44 billion, a PE ratio of 50.28 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Analysts predict that International Paper will post 1.44 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.14%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.