Bell Bank Has $8.46 Million Position in International Paper (NYSE:IP)

Bell Bank cut its position in International Paper (NYSE:IP) by 13.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,262 shares of the basic materials company’s stock after selling 26,821 shares during the quarter. International Paper comprises about 1.0% of Bell Bank’s portfolio, making the stock its 23rd biggest holding. Bell Bank’s holdings in International Paper were worth $8,464,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of International Paper by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after acquiring an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper during the 2nd quarter worth approximately $119,012,000. Diamond Hill Capital Management Inc. grew its position in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Finally, Samlyn Capital LLC bought a new position in shares of International Paper during the second quarter worth approximately $88,966,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of International Paper stock opened at $56.38 on Thursday. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The firm has a market capitalization of $19.59 billion, a P/E ratio of 48.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company’s 50 day moving average price is $49.78 and its two-hundred day moving average price is $46.20.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts forecast that International Paper will post 1.24 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.28%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock valued at $910,826 over the last 90 days. 0.55% of the stock is owned by insiders.

About International Paper

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.