International Paper Company (NYSE:IP) Stake Lessened by Outfitter Financial LLC

Outfitter Financial LLC cut its stake in International Paper Company (NYSE:IP) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,735 shares of the basic materials company’s stock after selling 1,940 shares during the period. Outfitter Financial LLC’s holdings in International Paper were worth $1,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of International Paper in the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department bought a new position in shares of International Paper in the first quarter valued at approximately $37,000. Transce3nd LLC acquired a new stake in International Paper during the fourth quarter valued at approximately $38,000. Grove Bank & Trust lifted its stake in International Paper by 472.0% during the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in International Paper during the first quarter valued at approximately $42,000. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price for the company. UBS Group started coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a “buy” rating and a $60.00 price target on the stock. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.65.

International Paper Trading Down 1.3%

NYSE IP traded down $0.68 during trading on Friday, reaching $50.23. 478,637 shares of the stock traded hands, compared to its average volume of 6,701,743. The firm has a market cap of $26.52 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 0.47 and a beta of 1.02. The stock’s 50-day moving average price is $48.42 and its 200 day moving average price is $50.95. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share 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 period in the previous year, the firm posted $0.17 EPS. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared 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 3.68%. The ex-dividend date was Friday, May 23rd. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Insider Transactions at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value 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. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

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.