International Paper Company (NYSE:IT)’s Senior Vice President, William Hoel, sold 10,000 shares of Common Stock yesterday, paying a price of $50.00 per share. This disposition is the first to be executed by Hoel for the fiscal year, and he now holds a total of 182,224 shares of the $21.8 billion market cap paper company.
However, the firm has experienced several insider stock sales throughout June, such as Carleton Ealy, Senior Vice President at International Paper, who unloaded 10,000 shares of Common Stock for $48.16 per share about 3 weeks ago. Somewhat larger dispositions this past month include Senior VP Thomas Kadien’s sale of 22,000 shares for $47.79 and John Faraci, Chairman and CEO of the company, who reduced his holdings by 30,000 on the 2nd of June, paying $47.31 per share.
On another note, while hedge fund movement has been stable this past quarter, some have increased International Paper’s portfolio participation, as is the case with Jeffrey Bersh and Michael Wartell’s hedge fund, Venor Capital Management. After augmenting activity by 85%, the fund now owns 1.22 million company shares, worth $56 million.