Vestor Capital LLC Has $36,000 Stock Position in International Paper Company $IP

Vestor Capital LLC trimmed its stake in International Paper Company (NYSE:IP) by 72.9% in the second quarter, Holdings Channel.com reports. The firm owned 771 shares of the basic materials company’s stock after selling 2,078 shares during the quarter. Vestor Capital LLC’s holdings in International Paper were worth $36,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of International Paper by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,016,340 shares of the basic materials company’s stock valued at $234,915,000 after buying an additional 42,069 shares during the period. Covalis Capital LLP acquired a new position in shares of International Paper in the second quarter worth $2,908,000. Tableaux LLC acquired a new stake in International Paper during the second quarter valued at $2,342,000. Rhumbline Advisers grew its stake in International Paper by 1.1% in the second quarter. Rhumbline Advisers now owns 954,248 shares of the basic materials company’s stock valued at $44,687,000 after purchasing an additional 10,043 shares in the last quarter. Finally, Mufg Securities Americas Inc. increased its position in International Paper by 25.4% in the 2nd quarter. Mufg Securities Americas Inc. now owns 11,699 shares of the basic materials company’s stock worth $548,000 after purchasing an additional 2,366 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Down 0.2%

Shares of NYSE:IP opened at $37.59 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock’s 50-day moving average is $43.32 and its 200-day moving average is $46.77. The company has a market cap of $19.85 billion, a P/E ratio of -375.90, a P/E/G ratio of 0.54 and a beta of 1.12. International Paper Company has a 52-week low of $35.56 and a 52-week high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Equities research analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s dividend payout ratio is -70.88%.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Wells Fargo & Company cut their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Weiss Ratings cut shares of International Paper from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, November 17th. Citigroup lowered their target price on shares of International Paper from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Truist Financial cut their target price on International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.62.

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.