Raymond James Financial Services Advisors Inc. Cuts Stake in International Paper (NYSE:IP)

Raymond James Financial Services Advisors Inc. cut its stake in International Paper (NYSE:IP – Get Rating) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,120 shares of the basic materials company’s stock after selling 4,186 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in International Paper were worth $2,082,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IP. Desjardins Global Asset Management Inc. lifted its position in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of International Paper by 165.8% during the third quarter. EverSource Wealth Advisors LLC now owns 776 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Dupont Capital Management Corp increased its stake in shares of International Paper by 133.4% during the fourth quarter. Dupont Capital Management Corp now owns 803 shares of the basic materials company’s stock valued at $28,000 after buying an additional 459 shares during the period. Glassman Wealth Services increased its stake in shares of International Paper by 38.0% during the fourth quarter. Glassman Wealth Services now owns 1,016 shares of the basic materials company’s stock valued at $35,000 after buying an additional 280 shares during the period. Finally, Kistler Tiffany Companies LLC increased its stake in shares of International Paper by 576.5% during the fourth quarter. Kistler Tiffany Companies LLC now owns 1,035 shares of the basic materials company’s stock valued at $36,000 after buying an additional 882 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Joseph R. Saab sold 1,705 shares of International Paper stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $35.35, for a total transaction of $60,271.75. Following the completion of the sale, the senior vice president now owns 1,671 shares of the company’s stock, valued at $59,069.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other International Paper news, CEO Mark S. Sutton sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $34.58, for a total value of $2,939,300.00. Following the completion of the transaction, the chief executive officer now directly owns 143,000 shares of the company’s stock, valued at $4,944,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph R. Saab sold 1,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $35.35, for a total value of $60,271.75. Following the completion of the transaction, the senior vice president now directly owns 1,671 shares of the company’s stock, valued at $59,069.85. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial raised their price target on International Paper from $30.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 1st. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. 58.com restated a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. UBS Group upgraded International Paper from a “sell” rating to a “neutral” rating and raised their price target for the company from $31.00 to $43.00 in a research note on Friday, February 3rd. Finally, 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.55.

International Paper Price Performance

Shares of IP stock opened at $31.46 on Thursday. International Paper has a fifty-two week low of $30.69 and a fifty-two week high of $49.31. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 8.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55. The stock’s 50-day simple moving average is $34.14 and its 200-day simple moving average is $35.86.

International Paper (NYSE:IP – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. International Paper had a return on equity of 14.87% and a net margin of 6.28%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that International Paper will post 2.35 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 26th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Thursday, May 25th. International Paper’s dividend payout ratio (DPR) is 51.25%.

About International Paper

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.