Palouse Capital Management Inc. Sells 50,554 Shares of International Paper (NYSE:IP)

Palouse Capital Management Inc. decreased its position in International Paper (NYSE:IP - Free Report) by 96.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,920 shares of the basic materials company's stock after selling 50,554 shares during the quarter. Palouse Capital Management Inc.'s holdings in International Paper were worth $94,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IP. Allspring Global Investments Holdings LLC grew its position in shares of International Paper by 3,666.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 862,317 shares of the basic materials company's stock worth $42,124,000 after buying an additional 839,420 shares in the last quarter. Raymond James & Associates grew its position in shares of International Paper by 29.6% during the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company's stock worth $15,704,000 after buying an additional 73,367 shares in the last quarter. Blue Trust Inc. grew its position in shares of International Paper by 240.7% during the third quarter. Blue Trust Inc. now owns 5,471 shares of the basic materials company's stock worth $267,000 after buying an additional 3,865 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of International Paper by 10.3% during the third quarter. V Square Quantitative Management LLC now owns 18,194 shares of the basic materials company's stock worth $889,000 after buying an additional 1,706 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of International Paper by 20.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,355 shares of the basic materials company's stock worth $2,069,000 after buying an additional 7,201 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IP shares. Wells Fargo & Company raised 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. Stifel Nicolaus assumed coverage on International Paper in a research note on Tuesday, July 9th. They issued a "hold" rating and a $48.70 target price on the stock. Royal Bank of Canada raised their target price on International Paper from $52.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Argus upgraded International Paper from a "hold" rating to a "buy" rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Finally, Seaport Res Ptn upgraded International Paper from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.46.

International Paper Price Performance

NYSE:IP traded up $0.17 during mid-day trading on Monday, reaching $46.95. 4,642,230 shares of the stock were exchanged, compared to its average volume of 5,283,570. The business has a fifty day moving average price of $47.94 and a 200 day moving average price of $44.20. The firm has a market capitalization of $16.31 billion, a PE ratio of 95.47 and a beta of 1.04. International Paper has a 1-year low of $31.76 and a 1-year 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 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 firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper's revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Research analysts expect that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.94%. International Paper's dividend payout ratio is currently 377.55%.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total value of $27,756.00. Following the transaction, the director now owns 41,602 shares of the company's stock, valued at approximately $1,924,508.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated 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 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. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,440 shares of company stock valued at $934,142. 0.55% of the stock is owned by corporate insiders.

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.