IQ EQ FUND MANAGEMENT IRELAND Ltd Decreases Stake in International Paper (NYSE:IP)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in International Paper (NYSE:IP - Free Report) by 37.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,521 shares of the basic materials company's stock after selling 23,075 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in International Paper were worth $1,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company's stock valued at $68,000 after acquiring an additional 239 shares during the period. Retirement Systems of Alabama increased its position in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company's stock valued at $3,306,000 after acquiring an additional 246 shares during the last quarter. Czech National Bank raised its position in International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company's stock worth $2,376,000 after purchasing an additional 295 shares during the period. Altrius Capital Management Inc raised its holdings in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company's stock worth $4,854,000 after buying an additional 296 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in shares of International Paper by 4.2% during the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company's stock worth $306,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Wells Fargo & Company upped their target price on International Paper from $43.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. Seaport Res Ptn upgraded shares of International Paper from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 28th. Truist Financial raised their target price on shares of International Paper from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday. Argus raised 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. Finally, Stifel Nicolaus assumed coverage on International Paper in a research report on Tuesday, July 9th. They issued a "hold" rating and a $48.70 price objective for the company. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.46.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares of the company's stock, valued at $1,890,192.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Joseph R. Saab sold 2,440 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares of the company's stock, valued at approximately $882,996.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the transaction, the director now owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock worth $934,142 over the last ninety days. Corporate insiders own 0.55% of the company's stock.

International Paper Price Performance

Shares of NYSE:IP traded up $0.15 during trading on Friday, reaching $46.78. The stock had a trading volume of 5,304,724 shares, compared to its average volume of 5,287,179. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The stock has a market cap of $16.25 billion, a PE ratio of 95.47 and a beta of 1.04. The business has a fifty day moving average price of $47.94 and a 200-day moving average price of $44.12.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Friday, November 15th. International Paper's dividend payout ratio is currently 377.55%.

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.