Richardson Financial Services Inc. Sells 1,253 Shares of International Paper (NYSE:IP)

Richardson Financial Services Inc. cut its position in International Paper (NYSE:IP) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,840 shares of the basic materials company’s stock after selling 1,253 shares during the period. Richardson Financial Services Inc.’s holdings in International Paper were worth $252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Paper in the 4th quarter valued at approximately $37,000. Janney Montgomery Scott LLC increased its position in shares of International Paper by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after acquiring an additional 17,516 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after acquiring an additional 199,687 shares during the period. Los Angeles Capital Management LLC bought a new stake in International Paper in the 1st quarter valued at $1,312,000. Finally, Brookstone Capital Management boosted its stake in International Paper by 1,759.4% in the 1st quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock worth $9,808,000 after purchasing an additional 237,837 shares during the period. 81.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on IP. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Truist Financial boosted their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Argus raised shares of 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. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Finally, Wells Fargo & Company raised their target price 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average target price of $50.21.

Insider Activity

In related news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $927,956 over the last three months. Insiders own 0.55% of the company’s stock.

International Paper Price Performance

Shares of IP opened at $49.54 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $46.76 and its 200 day simple moving average is $42.54. International Paper has a 1-year low of $31.76 and a 1-year high of $50.55. The company has a market cap of $17.21 billion, a price-to-earnings ratio of 101.10 and a beta of 1.04.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.59 EPS. International Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.73%. International Paper’s payout ratio is 377.55%.

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.