International Paper (NYSE:IP) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in shares of International Paper (NYSE:IP - Free Report) by 30.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,596 shares of the basic materials company's stock after selling 24,652 shares during the quarter. ProShare Advisors LLC's holdings in International Paper were worth $2,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in International Paper during the 4th quarter worth about $37,000. Janney Montgomery Scott LLC increased its holdings in International Paper by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company's stock worth $4,100,000 after buying an additional 17,516 shares during the period. Wellington Management Group LLP raised its position in International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company's stock worth $7,599,000 after buying an additional 199,687 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of International Paper in the 1st quarter valued at $1,312,000. Finally, Brookstone Capital Management increased its stake in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company's stock worth $9,808,000 after acquiring an additional 237,837 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the transaction, the director now owns 41,602 shares of the company's stock, valued at $1,924,508.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the transaction, the director now directly owns 41,602 shares of the company's stock, valued at $1,924,508.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the business's stock in a transaction dated 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 in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,840 shares of company stock valued at $902,294. Corporate insiders own 0.55% of the company's stock.

International Paper Price Performance

NYSE:IP traded down $0.01 during trading hours on Friday, hitting $49.04. 2,704,026 shares of the stock were exchanged, compared to its average volume of 5,367,603. The company has a market cap of $17.03 billion, a P/E ratio of 100.08 and a beta of 1.04. The firm's fifty day moving average price is $47.33 and its 200 day moving average price is $43.12. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company earned $0.59 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.77%. International Paper's payout ratio is presently 377.55%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IP. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a "hold" rating and a $48.70 target price for the company. Truist Financial raised 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, July 16th. Argus upgraded shares of International Paper from a "hold" rating to a "buy" rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company upped 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. Finally, Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of "Moderate Buy" and a consensus price target of $50.21.

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.