Sheaff Brock Investment Advisors LLC Reduces Stock Position in International Paper (NYSE:IP)

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of International Paper (NYSE:IP) by 3.9% in the third quarter, Holdings Channel reports. The institutional investor owned 5,168 shares of the basic materials company’s stock after selling 208 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in International Paper were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vectors Research Management LLC purchased a new stake in International Paper during the 3rd quarter valued at approximately $224,000. CIBC Asset Management Inc increased its holdings in shares of International Paper by 8.4% in the third quarter. CIBC Asset Management Inc now owns 50,703 shares of the basic materials company’s stock valued at $2,477,000 after purchasing an additional 3,947 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 314 shares during the last quarter. Lifeworks Advisors LLC lifted its holdings in shares of International Paper by 10.9% during the third quarter. Lifeworks Advisors LLC now owns 6,437 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 631 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in International Paper by 7.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,179 shares of the basic materials company’s stock valued at $1,035,000 after buying an additional 1,503 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IP. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial reiterated a “buy” rating and set a $61.00 target price (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Stock Performance

Shares of IP stock opened at $57.58 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. International Paper has a 1 year low of $31.76 and a 1 year high of $59.52. The stock has a fifty day moving average price of $50.36 and a 200 day moving average price of $46.58.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. Sell-side analysts forecast that International Paper will post 1.29 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. International Paper’s dividend payout ratio is presently 158.12%.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s 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 approximately $1,969,402.96. The trade was a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,840 shares of company stock valued at $910,826 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

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.