Crossmark Global Holdings Inc. Acquires 37,989 Shares of International Paper Company $IP

Key Points

• Crossmark Global Holdings initiated a position in International Paper by purchasing 37,989 shares worth approximately $1.26 million. Institutional investors collectively own 81.95% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $46.90; ratings include 10 Buys, three Holds, and one Sell.
• International Paper declared a quarterly dividend of $0.4625 per share, equivalent to $1.85 annually and a 5.6% yield, despite reporting declining revenue and a negative net margin.

Crossmark Global Holdings Inc. bought a new stake in International Paper Company (NYSE:IP - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 37,989 shares of the basic materials company's stock, valued at approximately $1,260,000.

Several other institutional investors have also recently bought and sold shares of the company. Man Group plc bought a new stake in shares of International Paper in the second quarter valued at approximately $24,640,000. Mitchell & Pahl Private Wealth LLC bought a new position in International Paper during the third quarter worth about $2,122,000. Amundi acquired a new stake in International Paper in the 2nd quarter valued at $82,666,000. The Manufacturers Life Insurance Company grew its holdings in shares of International Paper by 50.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company's stock worth $44,478,000 after purchasing an additional 389,092 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of International Paper during the second quarter worth approximately $1,603,000. Institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Truist Financial lowered their target price on International Paper from $49.00 to $41.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Loop Capital set a $61.00 target price on shares of International Paper in a research note on Tuesday, July 28th. Argus reiterated a "buy" rating and set a $45.00 target price on shares of International Paper in a research report on Thursday, September 24th. Royal Bank Of Canada raised their price target on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and set a $46.00 price target for the company in a report on Friday, September 11th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $46.90.

International Paper Stock Down 0.1%

NYSE:IP opened at $33.16 on Monday. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25. The stock has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $35.96. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of -5.09, a PEG ratio of 4.38 and a beta of 0.93. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the firm posted $0.20 earnings per share. International Paper's revenue was down 11.3% compared to the same quarter last year. As a group, equities analysts expect that International Paper Company will post 1.26 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Monday, November 16th. International Paper's dividend payout ratio is presently -28.37%.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William Hamic sold 24,500 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the transaction, the vice president owned 106,952 shares of the company's stock, valued at $4,406,422.40. This trade represents a 18.64% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

International Paper Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.