International Paper (NYSE:IP) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC decreased its position in International Paper (NYSE:IP) by 10.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,947 shares of the basic materials company’s stock after selling 945 shares during the period. Ingalls & Snyder LLC’s holdings in International Paper were worth $428,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in International Paper in the third quarter valued at $24,327,000. Aptus Capital Advisors LLC grew its holdings in International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 785 shares during the last quarter. Wedmont Private Capital acquired a new stake in International Paper in the fourth quarter valued at $376,000. Finally, Curi RMB Capital LLC acquired a new stake in shares of International Paper during the third quarter valued at $4,870,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

IP has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America initiated coverage on International Paper in a research note on Thursday. They set a “neutral” rating on the stock. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Up 1.8 %

Shares of NYSE:IP opened at $55.59 on Friday. The stock’s 50-day moving average price is $55.48 and its two-hundred day moving average price is $52.17. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 35.41 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, research analysts forecast that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is 117.84%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

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.