Plimoth Trust Co. LLC Sells 250 Shares of International Paper Company (NYSE:IP)

Plimoth Trust Co. LLC trimmed its holdings in International Paper Company (NYSE:IP) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,999 shares of the basic materials company’s stock after selling 250 shares during the period. Plimoth Trust Co. LLC’s holdings in International Paper were worth $373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in International Paper by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company’s stock valued at $2,561,651,000 after purchasing an additional 368,648 shares during the last quarter. Vanguard Group Inc. raised its position in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after purchasing an additional 340,383 shares during the period. Capital Research Global Investors lifted its stake in shares of International Paper by 68.8% during the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after buying an additional 12,191,361 shares during the last quarter. FMR LLC boosted its holdings in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after buying an additional 8,720,575 shares during the period. Finally, Geode Capital Management LLC grew its stake in International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after buying an additional 24,816 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

NYSE:IP opened at $46.07 on Thursday. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 0.42 and a beta of 1.04. International Paper Company has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The stock has a fifty day moving average price of $47.07 and a 200-day moving average price of $51.84.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. As a group, equities analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Friday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IP shares. Wells Fargo & Company restated an “underweight” rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. JPMorgan Chase & Co. began coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.54.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by company insiders.

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.