Tompkins Financial Corp Sells 2,000 Shares of International Paper (NYSE:IP)

Tompkins Financial Corp lessened its stake in International Paper (NYSE:IP) by 60.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,300 shares of the basic materials company’s stock after selling 2,000 shares during the quarter. Tompkins Financial Corp’s holdings in International Paper were worth $69,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SPC Financial Inc. raised its holdings in International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after acquiring an additional 200 shares during the period. Inspire Advisors LLC raised its holdings in International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 204 shares during the period. Kestra Private Wealth Services LLC raised its holdings in International Paper by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after acquiring an additional 212 shares during the period. Picton Mahoney Asset Management raised its holdings in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Finally, Summit Financial LLC raised its holdings in International Paper by 4.3% during the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company’s stock valued at $293,000 after acquiring an additional 224 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 0.4%

Shares of NYSE:IP opened at $47.74 on Friday. International Paper has a 52-week low of $41.50 and a 52-week high of $60.36. The firm has a fifty day moving average of $48.00 and a 200 day moving average of $52.86. The firm has a market capitalization of $25.20 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. As a group, research analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.88%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling

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 shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IP shares. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Finally, Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper presently has a consensus rating of “Hold” and an average target price of $53.86.

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.