Old Port Advisors Decreases Stock Holdings in International Paper (NYSE:IP)

Old Port Advisors lowered its holdings in International Paper (NYSE:IP) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 59,999 shares of the basic materials company’s stock after selling 1,039 shares during the period. International Paper makes up about 0.9% of Old Port Advisors’ investment portfolio, making the stock its 23rd largest holding. Old Port Advisors’ holdings in International Paper were worth $3,229,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in International Paper in the second quarter worth about $119,012,000. Point72 Asset Management L.P. boosted its stake in International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after acquiring an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position 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 valued at $206,921,000 after acquiring an additional 2,354,341 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter worth approximately $88,966,000. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on IP shares. Royal Bank of Canada upped their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.54.

International Paper Stock Performance

Shares of NYSE:IP traded down $0.32 during midday trading on Thursday, reaching $53.50. 807,194 shares of the company traded hands, compared to its average volume of 5,101,394. The firm’s fifty day moving average price is $55.76 and its two-hundred day moving average price is $49.87. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of 45.73 and a beta of 1.02. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. On average, equities analysts expect that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.46%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 2,400 shares of company stock valued at $129,696. 0.55% of the stock is currently owned by company insiders.

About International Paper

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.