International Paper Company (NYSE:IP) Shares Purchased by Forte Capital LLC ADV

Forte Capital LLC ADV raised its position in International Paper Company (NYSE:IP - Free Report) by 17.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,146 shares of the basic materials company's stock after purchasing an additional 8,151 shares during the period. Forte Capital LLC ADV's holdings in International Paper were worth $2,995,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new position in shares of International Paper during the 4th quarter valued at about $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper during the 1st quarter worth approximately $37,000. Transce3nd LLC acquired a new stake in International Paper during the 4th quarter worth approximately $38,000. Grove Bank & Trust increased its position in 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 in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in International Paper during the 1st quarter worth approximately $42,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IP shares. Truist Financial set a $59.00 target price on shares of International Paper in a research report on Wednesday, May 28th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. UBS Group began coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price for the company. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $55.65.

International Paper Stock Down 1.0%

Shares of International Paper stock traded down $0.51 on Friday, hitting $50.40. 2,959,556 shares of the company's stock traded hands, compared to its average volume of 6,720,632. The stock has a market cap of $26.61 billion, a P/E ratio of 43.08, a PEG ratio of 0.47 and a beta of 1.02. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm's 50-day moving average is $48.42 and its 200 day moving average is $50.95. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36.

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

International Paper Announces Dividend

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

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.