Certified Advisory Corp Sells 737 Shares of International Paper (NYSE:IP)

Certified Advisory Corp cut its position in International Paper (NYSE:IP) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,987 shares of the basic materials company’s stock after selling 737 shares during the quarter. Certified Advisory Corp’s holdings in International Paper were worth $1,121,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp increased its position in International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after buying an additional 475 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of International Paper during the second quarter valued at about $26,000. MCF Advisors LLC raised its position in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC acquired a new stake in International Paper in the 1st quarter worth approximately $29,000. Finally, Assetmark Inc. boosted its stake in International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 649 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Down 0.6 %

International Paper stock opened at $48.42 on Tuesday. The firm has a market cap of $16.82 billion, a PE ratio of 98.82 and a beta of 1.04. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The stock’s 50 day simple moving average is $47.09 and its two-hundred day simple moving average is $42.87. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. Analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.82%. International Paper’s payout ratio is 377.55%.

Analyst Ratings Changes

IP has been the subject of a number of research analyst reports. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. 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. Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now directly owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Joseph R. Saab sold 2,440 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the sale, the director now owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,440 shares of company stock worth $927,956. 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.