Private Trust Co. NA Reduces Stock Position in International Paper Company $IP

Private Trust Co. NA cut its holdings in shares of International Paper Company (NYSE:IP) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,728 shares of the basic materials company’s stock after selling 396 shares during the quarter. Private Trust Co. NA’s holdings in International Paper were worth $221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IP. GAMMA Investing LLC increased its holdings in International Paper by 6.4% during the 1st quarter. GAMMA Investing LLC now owns 5,425 shares of the basic materials company’s stock worth $289,000 after purchasing an additional 327 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in International Paper by 22.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,691 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 312 shares during the last quarter. Retirement Systems of Alabama increased its holdings in International Paper by 50.6% during the 1st quarter. Retirement Systems of Alabama now owns 113,302 shares of the basic materials company’s stock worth $6,045,000 after purchasing an additional 38,083 shares during the last quarter. Kentucky Retirement Systems increased its holdings in International Paper by 49.7% during the 1st quarter. Kentucky Retirement Systems now owns 35,733 shares of the basic materials company’s stock worth $1,906,000 after purchasing an additional 11,862 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in International Paper by 3.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,320 shares of the basic materials company’s stock worth $2,631,000 after purchasing an additional 1,680 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 0.3%

NYSE:IP opened at $47.77 on Wednesday. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The firm has a market capitalization of $25.22 billion, a P/E ratio of -477.70, a P/E/G ratio of 0.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The business has a 50 day simple moving average of $47.15 and a 200 day simple moving average of $47.82.

International Paper (NYSE:IP) last released its quarterly earnings data 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 company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. Equities research analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.9%. International Paper’s dividend payout ratio is currently -1,850.00%.

Insider Transactions at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IP has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Tuesday, October 7th. Truist Financial lowered their price target on International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a report on Monday, October 13th. Stifel Nicolaus set a $57.80 price target on International Paper and gave the company a “buy” rating in a report on Friday. Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Hold” and an average price target of $53.85.

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.