B.O.S.S. Retirement Advisors LLC reduced its stake in International Paper (NYSE:IP – Free Report) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,022 shares of the basic materials company’s stock after selling 5,469 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in International Paper were worth $2,259,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. grew its stake in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares in the last quarter. MRP Capital Investments LLC purchased a new position in shares of International Paper in the 1st quarter worth $25,000. Delta Asset Management LLC TN purchased a new position in shares of International Paper in the 4th quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new position in shares of International Paper in the 4th quarter worth $27,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of International Paper by 98.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 822 shares of the basic materials company’s stock worth $30,000 after buying an additional 407 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.
International Paper Stock Down 1.1 %
Shares of NYSE:IP traded down $0.37 during trading hours on Friday, hitting $34.24. The company’s stock had a trading volume of 5,919,007 shares, compared to its average volume of 3,127,389. International Paper has a 52 week low of $29.00 and a 52 week high of $41.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.12. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 11.77 and a beta of 1.07. The firm’s fifty day moving average price is $34.06 and its 200 day moving average price is $33.66.
International Paper Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 5.40%. International Paper’s dividend payout ratio is currently 63.57%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of International Paper in a research note on Friday, August 18th. They set a “buy” rating for the company. UBS Group dropped their price target on shares of International Paper from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. Citigroup lifted their price target on shares of International Paper from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Bank of America cut shares of International Paper from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $33.00 in a research note on Monday, July 10th. Finally, Truist Financial dropped their price target on shares of International Paper from $38.00 to $29.00 and set a “hold” rating for the company in a research note on Tuesday, July 18th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average price target of $35.82.
In related news, VP Holly G. Goughnour sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.70, for a total transaction of $89,250.00. Following the completion of the transaction, the vice president now owns 8,219 shares in the company, valued at approximately $293,418.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.51% of the company’s stock.
International Paper Profile
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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