First Nebraska Trust Co Purchases Shares of 74,175 International Paper Company $IP

First Nebraska Trust Co purchased a new position in International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 74,175 shares of the basic materials company’s stock, valued at approximately $2,826,000.

A number of other hedge funds have also recently modified their holdings of IP. BlackRock Inc. purchased a new stake in shares of International Paper during the second quarter worth about $1,940,896,000. Bank of New York Mellon Corp bought a new stake in shares of International Paper in the second quarter worth about $689,498,000. Capital International Investors increased its holdings in International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after purchasing an additional 14,422,616 shares during the period. Franklin Resources Inc. increased its holdings in International Paper by 81.6% during the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after purchasing an additional 6,663,986 shares during the period. Finally, Norges Bank bought a new position in International Paper during the 4th quarter valued at approximately $250,093,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

International Paper Stock Performance

Shares of IP opened at $41.53 on Friday. The company has a 50-day simple moving average of $39.21 and a two-hundred day simple moving average of $37.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The firm has a market capitalization of $21.99 billion, a PE ratio of -6.37 and a beta of 0.94. International Paper Company has a one year low of $29.26 and a one year high of $50.25.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. On average, analysts anticipate that International Paper Company will post 1.34 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio is presently -28.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IP shares. JPMorgan Chase & Co. upgraded International Paper from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $51.00 to $61.00 in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Truist Financial restated a “buy” rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a report on Friday, July 31st. UBS Group raised their price target on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.