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

Elevated Capital Advisors LLC decreased its holdings in shares of International Paper (NYSE:IP) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,489 shares of the basic materials company’s stock after selling 408 shares during the period. Elevated Capital Advisors LLC’s holdings in International Paper were worth $1,196,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Innealta Capital LLC acquired a new stake in International Paper in the second quarter valued at approximately $26,000. MCF Advisors LLC boosted its stake in shares of International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Crewe Advisors LLC acquired a new stake in International Paper during the 1st quarter valued at $29,000. Eastern Bank acquired a new stake in International Paper during the 3rd quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in International Paper during the 2nd quarter worth $37,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the 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 sale, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated 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 sale, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $934,142 over the last ninety days. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

IP stock opened at $47.52 on Wednesday. The firm has a market cap of $16.51 billion, a P/E ratio of 96.98 and a beta of 1.04. The stock’s 50 day simple moving average is $48.04 and its 200 day simple moving average is $44.32. 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 has a 12-month low of $31.76 and a 12-month high of $50.68.

International Paper (NYSE:IP) last posted its quarterly 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. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.89%. International Paper’s dividend payout ratio is currently 377.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Truist Financial raised their price objective on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada raised their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.46.

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.