Amalgamated Bank Sells 34,436 Shares of International Paper (NYSE:IP)

Amalgamated Bank decreased its stake in International Paper (NYSE:IP - Free Report) by 33.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,204 shares of the basic materials company's stock after selling 34,436 shares during the quarter. Amalgamated Bank's holdings in International Paper were worth $3,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company's stock valued at $613,367,000 after buying an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company's stock valued at $824,716,000 after acquiring an additional 5,492,035 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of International Paper in the second quarter worth about $119,012,000. Samlyn Capital LLC acquired a new stake in shares of International Paper during the second quarter worth about $88,966,000. Finally, Diamond Hill Capital Management Inc. acquired a new stake in shares of International Paper during the second quarter worth about $81,187,000. Institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IP shares. Argus raised International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.96.

International Paper Stock Down 1.8 %

NYSE:IP traded down $1.03 on Friday, hitting $57.38. 4,448,308 shares of the company's stock were exchanged, compared to its average volume of 5,977,796. The firm has a 50-day moving average price of $49.41 and a 200-day moving average price of $45.78. International Paper has a 52 week low of $31.76 and a 52 week high of $59.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market cap of $19.93 billion, a P/E ratio of 49.04 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, analysts expect that International Paper will post 1.44 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. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.22%. International Paper's dividend payout ratio is presently 158.12%.

Insider Transactions at International Paper

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now owns 16,788 shares in the company, valued at $792,729.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares of the company's stock, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the transaction, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $938,486 in the last ninety days. Insiders own 0.55% of the company's stock.

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.