NBC Securities Inc. Sells 395 Shares of International Paper (NYSE:IP)

NBC Securities Inc. trimmed its holdings in shares of International Paper (NYSE:IP) by 14.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,424 shares of the basic materials company’s stock after selling 395 shares during the quarter. NBC Securities Inc.’s holdings in International Paper were worth $87,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC acquired a new stake in shares of International Paper during the 3rd quarter worth $25,000. CVA Family Office LLC acquired a new stake in International Paper during the fourth quarter worth about $27,000. Venturi Wealth Management LLC increased its holdings in International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of International Paper in the 4th quarter valued at approximately $36,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of International Paper during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 10,000 shares of company stock worth $355,348. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IP shares. Truist Financial reissued a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.57.

International Paper Stock Performance

NYSE:IP opened at $40.52 on Friday. The stock’s 50-day moving average is $37.42 and its 200-day moving average is $36.16. International Paper has a 1-year low of $29.00 and a 1-year high of $41.30. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $14.07 billion, a P/E ratio of 82.69 and a beta of 1.01.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that International Paper will post 1.85 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 24th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

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.