Virtu Financial LLC Decreases Stock Position in International Paper (NYSE:IP)

Virtu Financial LLC decreased its position in shares of International Paper (NYSE:IP) by 72.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,479 shares of the basic materials company’s stock after selling 70,651 shares during the period. Virtu Financial LLC’s holdings in International Paper were worth $1,186,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes 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 boosted its stake in International Paper by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares during the last quarter. Wellington Management Group LLP grew its holdings in International Paper by 1,896.7% during the 4th 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 in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of International Paper in the 1st quarter worth about $1,312,000. Finally, Brookstone Capital Management raised its stake in shares of 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 valued at $9,808,000 after purchasing an additional 237,837 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.1 %

Shares of NYSE:IP opened at $49.54 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $46.76 and its 200 day moving average price is $42.54. The company has a market cap of $17.21 billion, a PE ratio of 101.10 and a beta of 1.04. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.55.

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

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given 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 3.73%. International Paper’s dividend payout ratio is presently 377.55%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $49.48, for a total transaction of $29,688.00. Following the completion of the sale, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,440 shares of company stock valued at $927,956. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus started coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Royal Bank of Canada boosted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Truist Financial lifted their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $50.21.

About International Paper

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.