Sunbelt Securities Inc. Trims Stake in International Paper (NYSE:IP)

Sunbelt Securities Inc. lowered its position in International Paper (NYSE:IP) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,138 shares of the basic materials company’s stock after selling 4,095 shares during the period. Sunbelt Securities Inc.’s holdings in International Paper were worth $653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in International Paper during the second quarter worth about $26,000. MCF Advisors LLC increased its position in International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares in the last quarter. Jones Financial Companies Lllp raised 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 valued at $25,000 after buying an additional 475 shares during the last quarter. Crewe Advisors LLC bought a new stake in International Paper in the first quarter worth $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of International Paper in the second quarter worth $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $48.68, for a total value of $29,208.00. Following the transaction, the director now directly owns 39,545 shares of the company’s stock, valued at approximately $1,925,050.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $48.68, for a total transaction of $29,208.00. Following the completion of the transaction, the director now directly owns 39,545 shares in the company, valued at approximately $1,925,050.60. 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 firm’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 sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,440 shares of company stock worth $931,502. Company insiders own 0.55% of the company’s stock.

International Paper Price Performance

NYSE IP opened at $49.21 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of 100.43 and a beta of 1.04. The business’s fifty day moving average price is $47.44 and its 200-day moving average price is $43.40.

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

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.76%. International Paper’s dividend payout ratio is currently 377.55%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IP. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company raised their price target 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. Stifel Nicolaus began coverage on 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, Royal Bank of Canada lifted their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

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.