Victory Capital Management Inc. Sells 114,257 Shares of International Paper (NYSE:IP)

Victory Capital Management Inc. lowered its holdings in International Paper (NYSE:IP - Free Report) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 660,822 shares of the basic materials company's stock after selling 114,257 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of International Paper worth $32,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Innealta Capital LLC acquired a new position in shares of International Paper in the second quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in International Paper in the third quarter valued at about $28,000. Crewe Advisors LLC acquired a new position in International Paper in the 1st quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of International Paper during the 2nd quarter worth about $37,000. Finally, Eastern Bank acquired a new stake in shares of International Paper during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial reaffirmed a "buy" rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. 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 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 report on Thursday, July 25th. BNP Paribas lowered International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a report on Wednesday. Finally, Royal Bank of Canada increased 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. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.54.

International Paper Stock Performance

Shares of IP stock traded up $1.10 during trading hours on Friday, reaching $57.58. 5,336,208 shares of the company's stock were exchanged, compared to its average volume of 5,805,293. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $59.52. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $20.00 billion, a P/E ratio of 49.21 and a beta of 1.02. The business has a fifty day moving average price of $50.36 and a 200-day moving average price of $46.58.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. 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. Shareholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.21%. International Paper's dividend payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of the business'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 sale, the senior vice president now owns 49,832 shares of the company's stock, valued at $2,433,296.56. The trade was a 15.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the company's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. The trade was a 22.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,840 shares of company stock valued at $910,826 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

International Paper 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.