Lee Financial Co Sells 266 Shares of International Paper (NYSE:IP)

Lee Financial Co decreased its holdings in shares of International Paper (NYSE:IP) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,449 shares of the basic materials company’s stock after selling 266 shares during the period. Lee Financial Co’s holdings in International Paper were worth $939,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group bought a new position in International Paper in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the third quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new position in International Paper in the 3rd quarter worth about $28,000. Versant Capital Management Inc boosted its position in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the period. Finally, City State Bank grew its stake in International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 350 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by company insiders.

International Paper Stock Performance

Shares of International Paper stock opened at $56.25 on Friday. The company has a market capitalization of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. The company has a 50-day simple moving average of $55.45 and a two-hundred day simple moving average of $52.26. International Paper has a one year low of $33.16 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts expect that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. International Paper’s payout ratio is 117.84%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Bank of America began coverage on International Paper in a research report on Thursday. They set a “neutral” rating on the stock. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Profile

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.