Oppenheimer & Co. Inc. Lowers Stake in International Paper (NYSE:IP)

Oppenheimer & Co. Inc. cut its stake in shares of International Paper (NYSE:IP - Free Report) by 68.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,406 shares of the basic materials company's stock after selling 56,089 shares during the period. Oppenheimer & Co. Inc.'s holdings in International Paper were worth $1,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IP. Massmutual Trust Co. FSB ADV increased its holdings in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company's stock worth $68,000 after purchasing an additional 239 shares during the last quarter. Retirement Systems of Alabama increased its stake 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 worth $3,306,000 after acquiring an additional 246 shares during the last quarter. Altrius Capital Management Inc increased its stake in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company's stock worth $4,854,000 after acquiring an additional 296 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in International Paper by 4.2% during the second quarter. 180 Wealth Advisors LLC now owns 8,172 shares of the basic materials company's stock worth $351,000 after acquiring an additional 327 shares during the last quarter. Finally, Assetmark Inc. increased its stake in International Paper by 38.8% during the third quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company's stock worth $58,000 after acquiring an additional 331 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares of the company's stock, valued at $2,433,296.56. This represents a 15.30 % 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 on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares in the company, valued at approximately $1,969,402.96. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,440 shares of company stock valued at $944,540. Corporate insiders own 0.55% of the company's stock.

International Paper Stock Up 0.2 %

NYSE:IP traded up $0.14 during trading hours on Tuesday, reaching $57.84. The company's stock had a trading volume of 4,262,830 shares, compared to its average volume of 5,322,706. The company has a market capitalization of $20.09 billion, a P/E ratio of 48.90 and a beta of 1.02. International Paper has a 12 month low of $31.76 and a 12 month high of $59.52. 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 stock has a 50 day moving average price of $50.56 and a two-hundred day moving average price of $46.81.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities analysts predict that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, November 15th. International Paper's payout ratio is presently 158.12%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial reissued a "buy" rating and set a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BNP Paribas lowered International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. 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. Finally, Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.