Private Advisor Group LLC Trims Stock Holdings in International Paper Company (NYSE:IP)

Private Advisor Group LLC lessened its holdings in International Paper Company (NYSE:IP - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,432 shares of the basic materials company's stock after selling 5,817 shares during the quarter. Private Advisor Group LLC's holdings in International Paper were worth $2,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Summit Financial LLC boosted its holdings in International Paper by 4.3% during the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock worth $293,000 after purchasing an additional 224 shares during the last quarter. Greenleaf Trust boosted its position in International Paper by 2.5% during the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after purchasing an additional 224 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of 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 worth $480,000 after buying an additional 231 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of International Paper by 6.0% during the first 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 in the last quarter. Finally, Wimmer Associates 1 LLC raised its stake in 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 valued at $401,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent analyst reports. Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company restated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of "Hold" and a consensus price target of $55.65.

International Paper Trading Up 1.7%

International Paper stock traded up $0.93 during trading hours on Friday, reaching $55.73. The company had a trading volume of 3,587,547 shares, compared to its average volume of 3,756,973. The firm has a market cap of $29.42 billion, a price-to-earnings ratio of 47.63, a P/E/G ratio of 0.50 and a beta of 1.02. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company has a 50-day moving average price of $49.00 and a 200 day moving average price of $50.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96.

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

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's payout ratio 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.