Thrivent Financial for Lutherans Sells 54,529 Shares of International Paper (NYSE:IP)

Posted by MarketBeat News on May 26th, 2023

Thrivent Financial for Lutherans decreased its holdings in International Paper (NYSE:IP – Get Rating) by 78.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,232 shares of the basic materials company’s stock after selling 54,529 shares during the quarter. Thrivent Financial for Lutherans’ holdings in International Paper were worth $527,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Desjardins Global Asset Management Inc. raised its stake in International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in International Paper by 165.8% during the third quarter. EverSource Wealth Advisors LLC now owns 776 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Dupont Capital Management Corp increased its stake in shares of International Paper by 133.4% in the 4th quarter. Dupont Capital Management Corp now owns 803 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 459 shares during the last quarter. Glassman Wealth Services increased its stake in shares of International Paper by 38.0% in the 4th quarter. Glassman Wealth Services now owns 1,016 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 280 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its holdings in shares of International Paper by 576.5% during the 4th quarter. Kistler Tiffany Companies LLC now owns 1,035 shares of the basic materials company’s stock worth $36,000 after buying an additional 882 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at International Paper

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

Wall Street Analysts Forecast Growth

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A number of equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of International Paper from $30.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, February 1st. UBS Group raised International Paper from a “sell” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $43.00 in a report on Friday, February 3rd. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. Citigroup upped their price target on shares of International Paper from $36.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Finally, 51job reiterated a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.55.

International Paper Trading Down 1.2 %

Shares of IP stock opened at $30.61 on Friday. The company has a market cap of $10.62 billion, a P/E ratio of 8.48 and a beta of 1.04. International Paper has a fifty-two week low of $30.41 and a fifty-two week high of $49.31. The stock has a 50 day simple moving average of $34.06 and a two-hundred day simple moving average of $35.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55.

International Paper (NYSE:IP – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.03 billion. International Paper had a net margin of 6.28% and a return on equity of 14.87%. International Paper’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. Research analysts forecast that International Paper will post 2.35 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 26th will be given a dividend of $0.4625 per share. The ex-dividend date is Thursday, May 25th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 6.04%. International Paper’s dividend payout ratio (DPR) is presently 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.