International Paper Company $IP Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its holdings in International Paper Company (NYSE:IP) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,868 shares of the basic materials company’s stock after selling 695 shares during the quarter. Farther Finance Advisors LLC’s holdings in International Paper were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IP. Rise Advisors LLC increased its position in shares of International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 346 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of International Paper in the first quarter valued at approximately $34,000. Citizens National Bank Trust Department acquired a new position in shares of International Paper in the first quarter worth $37,000. Quintet Private Bank Europe S.A. acquired a new position in International Paper during the 2nd quarter worth $37,000. Finally, Grove Bank & Trust raised its holdings in International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 623 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IP. Jefferies Financial Group dropped their price target on shares of International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company reissued an “underweight” rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Finally, Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.02.

International Paper Price Performance

Shares of NYSE:IP opened at $45.32 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $23.93 billion, a P/E ratio of -453.20, a P/E/G ratio of 0.51 and a beta of 1.05. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36. The stock’s fifty day simple moving average is $48.41 and its 200-day simple moving average is $48.52.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter last year, the company posted $0.55 earnings per share. International Paper’s revenue for the quarter was up 42.9% on a year-over-year basis. As a group, equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, August 15th. International Paper’s payout ratio is presently -1,850.00%.

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.