71,257 Shares in International Paper Company $IP Bought by First Nebraska Trust Co

First Nebraska Trust Co acquired a new stake in International Paper Company (NYSE:IP) in the third quarter, Holdings Channel.com reports. The firm acquired 71,257 shares of the basic materials company’s stock, valued at approximately $2,363,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Garner Asset Management Corp bought a new position in shares of International Paper in the third quarter worth $913,000. GRIMES & Co WEALTH MANAGEMENT LLC bought a new stake in shares of International Paper during the 3rd quarter valued at $303,000. XML Financial LLC bought a new stake in shares of International Paper during the 3rd quarter valued at $660,000. Salomon & Ludwin LLC bought a new stake in shares of International Paper during the 3rd quarter valued at $25,000. Finally, True Freedom Investing LLC purchased a new stake in International Paper during the 3rd quarter worth about $5,261,000. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $39.00 target price (down from $41.00) on shares of International Paper in a research note on Thursday, October 29th. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. UBS Group cut their price objective on shares of International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Bank of America reaffirmed a “buy” rating on shares of International Paper in a research note on Thursday, October 29th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $45.44.

International Paper Price Performance

Shares of NYSE:IP opened at $35.14 on Wednesday. The company’s fifty day moving average price is $34.74 and its 200-day moving average price is $37.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.77. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of -5.36, a PEG ratio of 5.42 and a beta of 0.97. International Paper Company has a one year low of $29.26 and a one year high of $50.25.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the firm posted ($0.43) EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper Company will post 1.13 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a dividend of $0.4625 per share. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a yield of 5.3%. International Paper’s dividend payout ratio (DPR) is presently -28.20%.

Insiders Place Their Bets

In other International Paper news, VP William Hamic sold 24,500 shares of International Paper stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by insiders.

International Paper Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.