International Paper (NYSE:IP) Stock Position Lessened by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. trimmed its holdings in shares of International Paper (NYSE:IP) by 7.8% during the third quarter, Holdings Channel.com reports. The firm owned 7,100 shares of the basic materials company’s stock after selling 600 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in International Paper were worth $347,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in International Paper during the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in shares of International Paper during the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in International Paper during the second quarter worth approximately $37,000. Eastern Bank bought a new stake in International Paper during the third quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in International Paper in the third quarter worth approximately $42,000. 81.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares in the company, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now owns 41,002 shares in the company, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,440 shares of company stock worth $938,486. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IP has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.96.

International Paper Price Performance

IP stock opened at $57.38 on Friday. International Paper has a one year low of $31.76 and a one year high of $59.52. The firm has a 50-day moving average of $49.41 and a two-hundred day moving average of $45.70. The firm has a market capitalization of $19.93 billion, a PE ratio of 49.04 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that International Paper will post 1.44 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

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.