International Paper (NYSE:IP) Stock Holdings Lessened by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in International Paper (NYSE:IP - Free Report) by 22.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 226,721 shares of the basic materials company's stock after selling 65,828 shares during the period. Advisors Asset Management Inc. owned 0.07% of International Paper worth $11,075,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company's stock worth $824,716,000 after acquiring an additional 5,492,035 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company's stock worth $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock valued at $206,921,000 after buying an additional 2,354,341 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper in the 2nd quarter worth $119,012,000. Finally, Samlyn Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter valued at approximately $88,966,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In related news, VP Holly G. Goughnour sold 5,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company's stock, valued at $792,729.36. This represents a 22.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company's stock, valued at $882,996.40. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $944,540 in the last ninety days. Insiders own 0.55% of the company's stock.

International Paper Trading Up 1.7 %

IP traded up $1.00 during trading on Wednesday, hitting $58.84. 8,010,721 shares of the company's stock were exchanged, compared to its average volume of 5,334,652. The stock has a 50 day moving average price of $50.78 and a 200 day moving average price of $46.96. The firm has a market cap of $20.44 billion, a P/E ratio of 49.44 and a beta of 1.02. 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 has a 1 year low of $32.21 and a 1 year high of $60.22.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, analysts expect that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.14%. International Paper's dividend payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IP. Truist Financial restated a "buy" rating and set a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. Argus upgraded shares of International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. BNP Paribas downgraded International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.54.

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.