Forum Financial Management LP Reduces Position in International Paper (NYSE:IP)

Forum Financial Management LP trimmed its holdings in International Paper (NYSE:IP) by 15.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,467 shares of the basic materials company’s stock after selling 968 shares during the period. Forum Financial Management LP’s holdings in International Paper were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC acquired a new position in International Paper during the second quarter worth $26,000. MCF Advisors LLC boosted its position in shares of International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the period. Crewe Advisors LLC acquired a new stake in International Paper during the first quarter worth about $29,000. Finally, Assetmark Inc. raised its stake in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 649 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the 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 transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $573,822 over the last 90 days. 0.55% of the stock is owned by insiders.

International Paper Stock Performance

NYSE:IP opened at $48.42 on Friday. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 98.82 and a beta of 1.06. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a 52 week low of $31.76 and a 52 week high of $49.24. The company has a fifty day simple moving average of $45.69 and a two-hundred day simple moving average of $41.30.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, equities analysts anticipate that International Paper will post 1.64 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.82%. International Paper’s dividend payout ratio (DPR) is 377.55%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IP shares. Royal Bank of Canada increased their price target 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. Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Wells Fargo & Company lifted their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Finally, Truist Financial boosted their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average price target of $50.21.

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.