Gries Financial LLC Trims Stake in International Paper (NYSE:IP)

Gries Financial LLC trimmed its stake in International Paper (NYSE:IP) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,787 shares of the basic materials company’s stock after selling 344 shares during the period. Gries Financial LLC’s holdings in International Paper were worth $204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of International Paper by 4.7% during the 2nd quarter. Mackenzie Financial Corp now owns 31,775 shares of the basic materials company’s stock valued at $1,371,000 after purchasing an additional 1,420 shares during the period. Creative Planning boosted its stake in shares of International Paper by 6.1% in the second quarter. Creative Planning now owns 68,425 shares of the basic materials company’s stock worth $2,953,000 after acquiring an additional 3,947 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of International Paper by 4.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,426 shares of the basic materials company’s stock worth $1,658,000 after purchasing an additional 1,490 shares in the last quarter. NewEdge Advisors LLC raised its stake in International Paper by 1,011.5% during the 2nd quarter. NewEdge Advisors LLC now owns 31,190 shares of the basic materials company’s stock valued at $1,346,000 after purchasing an additional 28,384 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of International Paper during the second quarter valued at approximately $1,104,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 1.4 %

NYSE IP opened at $57.15 on Friday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company’s 50-day moving average price is $56.17 and its 200-day moving average price is $51.51. The stock has a market cap of $19.85 billion, a PE ratio of 48.85 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. Equities research analysts forecast that International Paper will post 1.18 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

IP has been the topic of a number of research reports. Truist Financial lifted their price objective on International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now directly owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by company insiders.

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.