My Legacy Advisors LLC Sells 4,169 Shares of International Paper (NYSE:IP)

My Legacy Advisors LLC reduced its stake in International Paper (NYSE:IP) by 16.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,905 shares of the basic materials company’s stock after selling 4,169 shares during the quarter. My Legacy Advisors LLC’s holdings in International Paper were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 239 shares in the last quarter. Retirement Systems of Alabama lifted its position in International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares in the last quarter. Altrius Capital Management Inc grew its holdings in shares of International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after acquiring an additional 296 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of International Paper by 4.2% in the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 318 shares during the last quarter. Finally, Ranch Capital Advisors Inc. raised its holdings in International Paper by 1.0% during the second quarter. Ranch Capital Advisors Inc. now owns 35,405 shares of the basic materials company’s stock worth $1,528,000 after acquiring an additional 345 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the transaction, the director now directly owns 38,945 shares of the company’s stock, valued at $1,872,475.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total transaction of $28,848.00. Following the completion of the sale, the director now owns 38,945 shares in the company, valued at approximately $1,872,475.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,440 shares of company stock valued at $934,142. 0.55% of the stock is owned by corporate insiders.

International Paper Stock Performance

Shares of International Paper stock traded up $0.70 during trading on Tuesday, reaching $47.63. The company’s stock had a trading volume of 1,800,118 shares, compared to its average volume of 5,266,462. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $47.99 and its 200-day moving average price is $44.25. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The firm has a market cap of $16.54 billion, a PE ratio of 95.82 and a beta of 1.04.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts forecast that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. International Paper’s payout ratio is 377.55%.

Wall Street Analyst Weigh In

Several research firms have issued reports on IP. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Stifel Nicolaus assumed coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.