Sunbelt Securities Inc. Has $396,000 Stock Position in International Paper (NYSE:IP)

Sunbelt Securities Inc. decreased its stake in International Paper (NYSE:IP – Get Rating) by 3.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,502 shares of the basic materials company’s stock after selling 413 shares during the quarter. Sunbelt Securities Inc.’s holdings in International Paper were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Desjardins Global Asset Management Inc. boosted its position in International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 211 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its position in International Paper by 2.5% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,974 shares of the basic materials company’s stock worth $411,000 after acquiring an additional 311 shares during the period. Norwood Financial Corp boosted its position in International Paper by 29.1% during the 3rd quarter. Norwood Financial Corp now owns 1,420 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 320 shares during the period. Carret Asset Management LLC boosted its position in International Paper by 0.6% during the 3rd quarter. Carret Asset Management LLC now owns 59,986 shares of the basic materials company’s stock worth $1,902,000 after acquiring an additional 337 shares during the period. Finally, Keybank National Association OH boosted its position in International Paper by 3.6% during the 3rd quarter. Keybank National Association OH now owns 10,416 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 365 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, SVP Timothy S. Nicholls sold 5,000 shares of International Paper stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $38.95, for a total value of $194,750.00. Following the transaction, the senior vice president now directly owns 129,261 shares of the company’s stock, valued at approximately $5,034,715.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Aimee K. Gregg sold 1,862 shares of International Paper stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $36.05, for a total transaction of $67,125.10. Following the sale, the senior vice president now owns 4,260 shares of the company’s stock, valued at approximately $153,573. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy S. Nicholls sold 5,000 shares of International Paper stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $38.95, for a total value of $194,750.00. Following the sale, the senior vice president now directly owns 129,261 shares in the company, valued at approximately $5,034,715.95. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IP. Royal Bank of Canada raised their price target on International Paper from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 1st. Truist Financial raised their price target on International Paper from $30.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 1st. Citigroup raised their price target on International Paper from $36.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. StockNews.com began coverage on International Paper in a research note on Thursday. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised their price target on International Paper from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.82.

International Paper Stock Up 0.6 %

Shares of IP stock opened at $34.67 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.35. The stock’s 50 day simple moving average is $37.65 and its 200 day simple moving average is $36.24. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 8.52 and a beta of 1.07. International Paper has a twelve month low of $30.69 and a twelve month high of $50.23.

International Paper (NYSE:IP – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.20 billion. International Paper had a return on equity of 15.81% and a net margin of 7.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. As a group, research analysts predict that International Paper will post 2.86 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Friday, February 17th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Thursday, February 16th. International Paper’s dividend payout ratio is currently 45.45%.

International Paper Company Profile

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.