ProShare Advisors LLC Has $3.21 Million Holdings in International Paper (NYSE:IP)

ProShare Advisors LLC cut its stake in International Paper (NYSE:IP) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,248 shares of the basic materials company’s stock after selling 1,673 shares during the period. ProShare Advisors LLC’s holdings in International Paper were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its stake in International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 295 shares during the period. Czech National Bank boosted its stake in International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 295 shares during the period. Kentucky Retirement Systems boosted its stake in International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after purchasing an additional 298 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after buying an additional 318 shares during the last quarter. Finally, Outfitter Financial LLC boosted its stake in shares of International Paper by 1.1% during the 4th quarter. Outfitter Financial LLC now owns 30,350 shares of the basic materials company’s stock worth $1,097,000 after buying an additional 325 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Stifel Nicolaus assumed coverage on shares of International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Wells Fargo & Company increased their price objective on shares of International Paper from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Truist Financial increased their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $45.84.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the transaction, the director now owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 3,600 shares of company stock valued at $150,594. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $45.87 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 93.61 and a beta of 1.06. The firm’s 50 day simple moving average is $43.95 and its 200 day simple moving average is $39.06. International Paper has a 1 year low of $31.23 and a 1 year high of $47.40.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, research analysts expect that International Paper will post 1.99 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, August 15th. International Paper’s payout ratio is currently 377.55%.

International Paper 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.