Arvest Investments Inc. Sells 1,610 Shares of International Paper (NYSE:IP)

Arvest Investments Inc. reduced its holdings in shares of International Paper (NYSE:IP) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,186 shares of the basic materials company’s stock after selling 1,610 shares during the quarter. Arvest Investments Inc.’s holdings in International Paper were worth $1,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of International Paper by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after acquiring an additional 15,904 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of International Paper during the 4th quarter worth approximately $788,000. Jones Financial Companies Lllp boosted its stake in shares of International Paper by 18.0% during the 4th quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company’s stock worth $946,000 after acquiring an additional 2,685 shares during the period. Wakefield Asset Management LLLP bought a new position in shares of International Paper during the 4th quarter worth approximately $502,000. Finally, Korea Investment CORP boosted its stake in shares of International Paper by 220.6% during the 4th quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company’s stock worth $16,720,000 after acquiring an additional 213,783 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Insider Transactions at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

International Paper Stock Performance

NYSE:IP opened at $47.12 on Thursday. The stock has a fifty day moving average price of $47.13 and a 200-day moving average price of $52.27. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 0.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period last year, the firm posted $0.17 EPS. International Paper’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Wall Street Analyst Weigh In

IP has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. UBS Group initiated coverage on International Paper in a research note on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price target for the company. Citigroup initiated coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.54.

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.