International Paper (NYSE:IP) Shares Sold by Bell Bank

Bell Bank lessened its holdings in International Paper (NYSE:IP - Free Report) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 173,262 shares of the basic materials company's stock after selling 26,821 shares during the quarter. International Paper makes up 1.0% of Bell Bank's holdings, making the stock its 23rd largest holding. Bell Bank's holdings in International Paper were worth $8,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 5,492,035 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 worth $613,367,000 after buying an additional 8,132,332 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of International Paper during the second quarter valued at $119,012,000. Finally, Samlyn Capital LLC bought a new stake in shares of International Paper in the second quarter valued at about $88,966,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Activity

In other news, VP Holly G. Goughnour sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now owns 16,788 shares of the company's stock, valued at $792,729.36. This trade represents a 22.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares of the company's stock, valued at approximately $2,433,296.56. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $910,826 in the last ninety days. Insiders own 0.55% of the company's stock.

International Paper Stock Performance

IP stock traded up $0.55 during midday trading on Thursday, reaching $56.93. The stock had a trading volume of 3,650,154 shares, compared to its average volume of 5,333,981. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a fifty day simple moving average of $49.96 and a two-hundred day simple moving average of $46.27. The stock has a market cap of $19.78 billion, a PE ratio of 48.19 and a beta of 1.02. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. As a group, equities research analysts anticipate that International Paper will post 1.24 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Analyst Upgrades and Downgrades

IP has been the subject of a number of recent research reports. Truist Financial reissued a "buy" rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on International Paper from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. 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. Finally, BNP Paribas downgraded shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.