Park Avenue Securities LLC Sells 1,299 Shares of International Paper (NYSE:IP)

Park Avenue Securities LLC trimmed its position in shares of International Paper (NYSE:IP) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,004 shares of the basic materials company’s stock after selling 1,299 shares during the quarter. Park Avenue Securities LLC’s holdings in International Paper were worth $2,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. CVA Family Office LLC purchased a new position in International Paper during the fourth quarter worth $27,000. Assetmark Inc. boosted its stake in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the period. Princeton Global Asset Management LLC purchased a new position in International Paper during the fourth quarter worth $36,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in International Paper during the fourth quarter worth $37,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Truist Financial boosted their target price on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Finally, Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

International Paper Stock Down 1.0 %

NYSE:IP opened at $46.08 on Friday. International Paper has a 1-year low of $30.23 and a 1-year high of $46.77. The company has a 50-day moving average of $40.79 and a 200 day moving average of $38.08. The firm has a market cap of $16.00 billion, a PE ratio of 94.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, research analysts anticipate that International Paper will post 1.84 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 4.01%. International Paper’s dividend payout ratio is presently 377.55%.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $44.58, for a total value of $26,748.00. Following the completion of the transaction, the director now directly owns 45,479 shares in the company, valued at $2,027,453.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 3,600 shares of company stock worth $144,744. 0.55% of the stock is owned by corporate insiders.

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.