International Paper Company (NYSE:IP) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. decreased its position in International Paper Company (NYSE:IP - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,168 shares of the basic materials company's stock after selling 7,934 shares during the quarter. D.A. Davidson & CO.'s holdings in International Paper were worth $5,771,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IP. Picton Mahoney Asset Management grew its position in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in International Paper in the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new position in International Paper in the first quarter valued at approximately $37,000. Transce3nd LLC bought a new position in shares of International Paper during the fourth quarter valued at approximately $38,000. Finally, Grove Bank & Trust raised its position in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after purchasing an additional 623 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer directly owned 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

International Paper Stock Performance

Shares of IP traded up $0.04 during trading hours on Friday, reaching $50.43. 2,049,934 shares of the company's stock traded hands, compared to its average volume of 3,296,024. International Paper Company has a twelve month low of $42.26 and a twelve month high of $60.36. The business's fifty day simple moving average is $47.33 and its two-hundred day simple moving average is $51.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 43.10, a P/E/G ratio of 0.46 and a beta of 1.02.

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

International Paper Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on IP shares. JPMorgan Chase & Co. began coverage on International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective for the company. Wells Fargo & Company reiterated an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, International Paper presently has a consensus rating of "Hold" and a consensus target price of $54.54.

International Paper 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.