Old Port Advisors Has $3.23 Million Stock Holdings in International Paper (NYSE:IP)

Old Port Advisors reduced its stake in International Paper (NYSE:IP) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,999 shares of the basic materials company’s stock after selling 1,039 shares during the quarter. International Paper comprises 0.9% of Old Port Advisors’ holdings, making the stock its 23rd largest holding. Old Port Advisors’ holdings in International Paper were worth $3,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of International Paper by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company’s stock worth $20,412,000 after purchasing an additional 10,632 shares during the period. Lord Abbett & CO. LLC acquired a new position in International Paper in the third quarter valued at $24,327,000. Oddo BHF Asset Management Sas acquired a new position in International Paper in the third quarter valued at $895,000. Wilmington Savings Fund Society FSB bought a new stake in International Paper during the third quarter valued at $614,000. Finally, World Investment Advisors LLC grew its holdings in International Paper by 6.1% during the 3rd quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 529 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Down 0.6 %

Shares of IP traded down $0.32 during trading hours on Thursday, reaching $53.50. The stock had a trading volume of 807,194 shares, compared to its average volume of 5,101,394. The firm has a 50-day simple moving average of $55.76 and a 200 day simple moving average of $49.87. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of 45.73 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. Equities research analysts predict that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IP shares. Royal Bank of Canada upped their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average target price of $51.54.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,400 shares of company stock valued at $129,696 over the last ninety days. 0.55% of the stock is currently owned by insiders.

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.