Cerity Partners LLC Sells 9,919 Shares of International Paper Company (NYSE:IP)

Cerity Partners LLC decreased its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,256 shares of the basic materials company's stock after selling 9,919 shares during the period. Cerity Partners LLC's holdings in International Paper were worth $1,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IP. Summit Financial LLC raised its stake in International Paper by 4.3% during the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock worth $293,000 after buying an additional 224 shares during the period. Greenleaf Trust raised its stake in International Paper by 2.5% during the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after buying an additional 224 shares during the period. Sequoia Financial Advisors LLC raised its stake in International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after buying an additional 231 shares during the period. Capital Investment Advisors LLC raised its stake in International Paper by 6.0% during the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock worth $223,000 after buying an additional 235 shares during the period. Finally, Wimmer Associates 1 LLC raised its stake in shares of International Paper by 3.8% in the fourth quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock worth $401,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Insider Transactions at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company's stock.

International Paper Stock Down 1.0%

IP stock opened at $50.40 on Monday. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The business's 50 day moving average price is $48.54 and its two-hundred day moving average price is $50.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The company has a market capitalization of $26.61 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 0.46 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.67%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IP shares. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. Finally, UBS Group initiated coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $55.65.

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.

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