SPC Financial Inc. Lowers Stock Holdings in International Paper (NYSE:IP)

SPC Financial Inc. reduced its position in shares of International Paper (NYSE:IP) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,850 shares of the basic materials company’s stock after selling 600 shares during the period. SPC Financial Inc.’s holdings in International Paper were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IP. Jones Financial Companies Lllp boosted its position in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. Innealta Capital LLC purchased a new position in shares of International Paper during the second quarter worth $26,000. MCF Advisors LLC boosted its holdings in International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Crewe Advisors LLC purchased a new position in International Paper in the first quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in International Paper in the fourth quarter valued at $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Up 0.7 %

IP opened at $49.21 on Wednesday. The business’s 50-day simple moving average is $47.44 and its 200-day simple moving average is $43.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a one year low of $31.76 and a one year high of $50.68. The stock has a market capitalization of $17.09 billion, a P/E ratio of 100.43 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. Analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.76%. The ex-dividend date was Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IP shares. Truist Financial lifted their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Royal Bank of Canada lifted their target price on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.21.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now owns 42,202 shares in the company, valued at approximately $1,843,383.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $931,502 in the last quarter. Company insiders own 0.55% of the company’s stock.

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.