International Paper Company (NYSE:IP) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. reduced its holdings in International Paper Company (NYSE:IP - Free Report) by 18.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,444 shares of the basic materials company's stock after selling 18,325 shares during the quarter. Financial Counselors Inc.'s holdings in International Paper were worth $4,292,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Spire Wealth Management lifted its stake in shares of International Paper by 2,343.9% in the 1st quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 1,547 shares during the period. Korea Investment CORP raised its stake in shares of International Paper by 220.6% in the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock worth $16,720,000 after purchasing an additional 213,783 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in International Paper during the fourth quarter valued at $21,307,000. Sequoia Financial Advisors LLC increased its position in International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after acquiring an additional 231 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in International Paper by 37.3% during the first quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company's stock valued at $1,194,000 after acquiring an additional 6,077 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Paper

In related 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 sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on International Paper from $40.00 to $43.00 and gave the stock an "underweight" rating in a research note on Thursday. UBS Group started coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. Finally, Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $55.65.

International Paper Trading Up 0.1%

Shares of NYSE IP traded up $0.06 during trading on Friday, reaching $52.47. The stock had a trading volume of 6,329,691 shares, compared to its average volume of 3,290,962. International Paper Company has a fifty-two week low of $42.73 and a fifty-two week high of $60.36. 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 business's 50-day moving average price is $47.86 and its 200-day moving average price is $51.03. The company has a market cap of $27.70 billion, a P/E ratio of 44.85, a PEG ratio of 0.48 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly 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 return on equity of 4.05% and a net margin of 1.99%. The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. During the same period last year, the firm earned $0.17 earnings per share. The firm's quarterly revenue was up 27.8% on a year-over-year basis. On average, equities research analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper's payout ratio is 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.