International Paper (NYSE:IP) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. decreased its holdings in shares of International Paper (NYSE:IP) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 55,042 shares of the basic materials company’s stock after selling 5,676 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in International Paper were worth $2,689,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in International Paper in the second quarter worth $119,012,000. Finally, Samlyn Capital LLC purchased a new stake in International Paper during the second quarter worth about $88,966,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 15.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. This trade represents a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $944,540 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.8 %

IP stock opened at $59.31 on Friday. The company has a market capitalization of $20.61 billion, a P/E ratio of 50.70 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.33 and a twelve month high of $60.22. The firm has a 50 day simple moving average of $51.24 and a 200-day simple moving average of $47.13.

International Paper (NYSE:IP) last announced its quarterly earnings data 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. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts predict that International Paper will post 1.22 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial reissued a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their target price 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. One investment analyst has rated the stock with a sell rating, three have issued 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, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

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.