Janney Montgomery Scott LLC Sells 11,177 Shares of International Paper (NYSE:IP)

Janney Montgomery Scott LLC lowered its stake in shares of International Paper (NYSE:IP - Free Report) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,799 shares of the basic materials company's stock after selling 11,177 shares during the period. Janney Montgomery Scott LLC's holdings in International Paper were worth $3,459,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of International Paper in the second quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in International Paper during the 1st quarter valued at $29,000. Eastern Bank purchased a new stake in International Paper during the 3rd quarter worth $40,000. Abich Financial Wealth Management LLC purchased a new position in International Paper in the 3rd quarter valued at about $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of International Paper during the second quarter valued at about $37,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now owns 41,002 shares of the company's stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the transaction, the director now directly owns 41,002 shares in the company, valued at $1,890,192.20. This trade 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 the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred 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 directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $938,486 in the last three months. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

NYSE IP traded up $0.28 on Monday, reaching $57.66. The company's stock had a trading volume of 2,135,995 shares, compared to its average volume of 5,347,464. The firm's 50 day moving average is $49.41 and its two-hundred day moving average is $45.86. The stock has a market cap of $20.03 billion, a PE ratio of 49.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a twelve month low of $31.76 and a twelve month high of $59.52.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results 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. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that International Paper will post 1.24 EPS for the current year.

International Paper Dividend Announcement

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 given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, November 15th. International Paper's payout ratio is 158.12%.

Analysts Set New Price Targets

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

About International Paper

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.