First Nebraska Trust Co Acquires 71,257 Shares of International Paper Company $IP

First Nebraska Trust Co acquired a new position in shares of International Paper Company (NYSE:IP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 71,257 shares of the basic materials company’s stock, valued at approximately $2,363,000.

Several other institutional investors have also recently made changes to their positions in IP. Mitchell & Pahl Private Wealth LLC purchased a new stake in International Paper in the 3rd quarter valued at about $2,122,000. Man Group plc purchased a new position in shares of International Paper in the 2nd quarter worth approximately $24,640,000. The Manufacturers Life Insurance Company boosted its stake in shares of International Paper by 50.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock worth $44,478,000 after buying an additional 389,092 shares during the last quarter. Amundi purchased a new position in shares of International Paper in the 2nd quarter worth approximately $82,666,000. Finally, D.A. Davidson & CO. bought a new position in shares of International Paper in the third quarter valued at approximately $4,469,000. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $35.14 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $34.74 and a two-hundred day simple moving average of $37.36. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of -5.36, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the company posted ($0.43) earnings per share. The business’s revenue was down .4% on a year-over-year basis. Analysts anticipate that International Paper Company will post 1.13 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 annualized dividend and a yield of 5.3%. International Paper’s dividend payout ratio (DPR) is -28.20%.

Analyst Ratings Changes

A number of brokerages recently commented on IP. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. UBS Group dropped their price target on International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Loop Capital set a $61.00 price objective on International Paper in a research note on Tuesday, July 28th. Finally, Argus restated a “buy” rating and issued a $45.00 price objective on shares of International Paper in a research note on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $45.44.

Insiders Place Their Bets

In related news, VP William Hamic sold 24,500 shares of International Paper stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

International Paper Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.