Prime Capital Investment Advisors LLC Trims Position in International Paper (NYSE:IP)

Prime Capital Investment Advisors LLC lowered its holdings in International Paper (NYSE:IP) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,040 shares of the basic materials company’s stock after selling 455 shares during the period. Prime Capital Investment Advisors LLC’s holdings in International Paper were worth $539,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IP. Bank of New York Mellon Corp raised its stake in International Paper by 133.7% during 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 purchasing an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 buying an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in International Paper in the second quarter valued at $119,012,000. Diamond Hill Capital Management Inc. grew its position in International Paper by 125.1% during the third 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 acquiring an additional 2,354,341 shares during the period. Finally, Samlyn Capital LLC acquired a new stake in International Paper during the second quarter worth about $88,966,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IP has been the subject of a number of research reports. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of 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 reiterated a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the transaction, the director now owns 38,345 shares in the company, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction that occurred 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. This represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,840 shares of company stock valued at $910,826. Insiders own 0.55% of the company’s stock.

International Paper Trading Up 2.0 %

NYSE:IP opened at $57.58 on Friday. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. International Paper has a one year low of $31.76 and a one year high of $59.52. 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 business’s 50-day simple moving average is $50.15 and its 200 day simple moving average is $46.34.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS. As a group, sell-side analysts predict that International Paper will post 1.29 earnings per share 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. Shareholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is currently 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.