B.O.S.S. Retirement Advisors LLC Sells 714 Shares of International Paper (NYSE:IP)

B.O.S.S. Retirement Advisors LLC lessened its stake in shares of International Paper (NYSE:IP) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,334 shares of the basic materials company’s stock after selling 714 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in International Paper were worth $2,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC bought a new position in International Paper in the 2nd quarter valued at $26,000. MCF Advisors LLC raised its position in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 624 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper during the first quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of International Paper during the second quarter worth $37,000. Finally, Hilltop National Bank raised its position in shares of International Paper by 58.9% during the second quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 415 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IP shares. Truist Financial boosted their target price on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada upped their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Three investment 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. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $50.46.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Monday, September 16th. The stock was 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 approximately $1,969,402.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the 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 of the company’s stock, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated 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 owns 39,802 shares of the company’s stock, valued at $1,969,402.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,440 shares of company stock valued at $934,142. 0.55% of the stock is owned by insiders.

International Paper Stock Up 0.5 %

IP stock opened at $47.98 on Thursday. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The business’s 50 day simple moving average is $47.86 and its 200 day simple moving average is $44.05. 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 firm has a market capitalization of $16.66 billion, a PE ratio of 97.92 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share 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 company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 377.55%.

International Paper Company 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.