International Paper Company $IP Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its position in shares of International Paper Company (NYSE:IP) by 46.5% in the second quarter, Holdings Channel reports. The firm owned 15,014 shares of the basic materials company’s stock after selling 13,030 shares during the period. Elo Mutual Pension Insurance Co’s holdings in International Paper were worth $703,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC raised its stake in shares of International Paper by 281.3% in the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new stake in International Paper in the 1st quarter valued at $34,000. AlphaQuest LLC raised its position in International Paper by 63,400.0% in the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of International Paper during the second quarter worth about $33,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of International Paper during the second quarter worth about $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IP shares. Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Truist Financial lowered their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the company a “buy” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. decreased their target price on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Citigroup dropped their price target on shares of International Paper from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, International Paper currently has a consensus rating of “Hold” and an average price target of $50.62.

International Paper Stock Performance

International Paper stock opened at $39.48 on Friday. International Paper Company has a 52 week low of $35.56 and a 52 week high of $60.15. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $20.85 billion, a P/E ratio of -394.80, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. The stock has a 50 day moving average of $42.73 and a 200-day moving average of $46.58.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue was up 56.4% on a year-over-year basis. On average, analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s dividend payout ratio (DPR) is -70.88%.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate 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.