Bell Bank Decreases Holdings in International Paper (NYSE:IP)

Bell Bank decreased its position in shares of International Paper (NYSE:IP) by 93.1% during the fourth quarter, HoldingsChannel reports. The fund owned 11,925 shares of the basic materials company’s stock after selling 161,337 shares during the quarter. Bell Bank’s holdings in International Paper were worth $642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after acquiring an additional 212 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after buying an additional 224 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IP shares. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average price target of $51.88.

International Paper Trading Down 0.8 %

IP opened at $55.62 on Friday. The business’s 50 day moving average is $55.59 and its two-hundred day moving average is $52.55. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

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.