International Paper (NYSE:IP) Stock Holdings Decreased by Carret Asset Management LLC

Carret Asset Management LLC lessened its position in International Paper (NYSE:IP) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,872 shares of the basic materials company’s stock after selling 498 shares during the quarter. Carret Asset Management LLC’s holdings in International Paper were worth $824,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Innealta Capital LLC acquired a new stake in International Paper during the 2nd quarter valued at $26,000. Crewe Advisors LLC purchased a new position in shares of International Paper during the first quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of International Paper during the second quarter valued at $37,000. Eastern Bank acquired a new position in International Paper during the third quarter valued at $40,000. Finally, Hilltop National Bank lifted its stake in International Paper by 58.9% in the 2nd quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now directly owns 41,002 shares of the company’s stock, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,440 shares of company stock worth $934,142. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, August 14th. Royal Bank of Canada increased their target price on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus initiated coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, Truist Financial increased their price objective on International Paper from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.46.

International Paper Stock Down 0.1 %

IP stock opened at $48.57 on Monday. The firm has a market cap of $16.87 billion, a PE ratio of 39.81 and a beta of 1.04. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The company has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $44.54. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.81%. International Paper’s dividend payout ratio is currently 151.64%.

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.