Barrett & Company Inc. Sells 295 Shares of International Paper (NYSE:IP)

Barrett & Company Inc. trimmed its position in shares of International Paper (NYSE:IP) by 32.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 614 shares of the basic materials company’s stock after selling 295 shares during the period. Barrett & Company Inc.’s holdings in International Paper were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in IP. Innealta Capital LLC bought a new stake in shares of International Paper in the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in International Paper during the first quarter worth approximately $29,000. Eastern Bank bought a new stake in International Paper in the third quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of International Paper in the second quarter valued at approximately $37,000. Finally, Hilltop National Bank lifted its position in shares of International Paper by 58.9% in the second quarter. Hilltop National Bank now owns 1,119 shares of the basic materials company’s stock valued at $48,000 after buying an additional 415 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP traded up $0.09 during trading hours on Monday, hitting $48.66. 638,872 shares of the stock were exchanged, compared to its average volume of 5,240,235. The company’s fifty day simple moving average is $48.16 and its two-hundred day simple moving average is $44.54. The company has a market cap of $16.90 billion, a PE ratio of 39.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. International Paper’s payout ratio is 151.64%.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. Stifel Nicolaus started coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Royal Bank of Canada raised their price objective 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. Wells Fargo & Company increased their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on shares of International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.46.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’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 transaction, the director now directly owns 38,945 shares in the company, valued at $1,872,475.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total transaction of $115,412.00. Following the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at $882,996.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,945 shares of the company’s stock, valued at $1,872,475.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,440 shares of company stock valued at $934,142. Corporate insiders own 0.55% of the company’s stock.

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.