International Paper (NYSE:IP) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lowered its stake in shares of International Paper (NYSE:IP) by 6.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,366 shares of the basic materials company’s stock after selling 370 shares during the period. Harbour Investments Inc.’s holdings in International Paper were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IP. Ashton Thomas Securities LLC purchased a new stake in International Paper during the third quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of International Paper in the second quarter valued at approximately $26,000. Crewe Advisors LLC purchased a new stake in International Paper during the 1st quarter worth approximately $29,000. Eastern Bank acquired a new stake in International Paper during the 3rd quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC purchased a new position in International Paper in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,840 shares of company stock worth $910,826. 0.55% of the stock is owned by insiders.

International Paper Trading Up 1.1 %

Shares of International Paper stock opened at $57.58 on Monday. 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 fifty day simple moving average of $50.36 and a 200-day simple moving average of $46.66. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 49.21 and a beta of 1.02. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analysts Set New Price Targets

IP has been the topic of a number of recent research reports. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Truist Financial reiterated a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

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.