International Paper Company (NYSE:IP) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lessened its holdings in shares of International Paper Company (NYSE:IP) by 3.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,098 shares of the basic materials company’s stock after selling 232 shares during the quarter. HB Wealth Management LLC’s holdings in International Paper were worth $379,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Bernard Wealth Management Corp. acquired a new stake in International Paper in the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper in the first quarter valued at approximately $37,000. Transce3nd LLC acquired a new stake in International Paper in the fourth quarter valued at approximately $38,000. Grove Bank & Trust raised its holdings in International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 623 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in International Paper in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of International Paper stock opened at $46.41 on Friday. The firm’s fifty day simple moving average is $49.22 and its 200-day simple moving average is $50.82. The stock has a market capitalization of $24.50 billion, a price-to-earnings ratio of -464.10, a PEG ratio of 0.43 and a beta of 1.04. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business’s revenue was up 42.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, equities analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. International Paper’s payout ratio is presently 158.12%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IP. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. UBS Group began coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company reiterated an “underweight” rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Finally, Truist Financial set a $59.00 price target on shares of International Paper in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.65.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer directly owned 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

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.