Ables Iannone Moore & Associates Inc. Purchases Shares of 1,014 International Paper (NYSE:IP)

Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Paper (NYSE:IP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,014 shares of the basic materials company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Franklin Resources Inc. raised its position in International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the last quarter. Norges Bank acquired a new position in International Paper during the 4th quarter worth approximately $94,913,000. Acadian Asset Management LLC raised its position in International Paper by 208.0% in the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after acquiring an additional 1,087,933 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after purchasing an additional 777,273 shares in the last quarter. Finally, Atlas FRM LLC grew its position in International Paper by 30.0% during the third quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock worth $92,222,000 after buying an additional 600,000 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Up 1.1 %

Shares of NYSE:IP opened at $45.37 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. International Paper has a 1-year low of $30.23 and a 1-year high of $46.34. The company’s fifty day moving average is $40.11 and its two-hundred day moving average is $37.83. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 92.59 and a beta of 1.06.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that International Paper will post 1.84 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 23rd. International Paper’s dividend payout ratio is currently 377.55%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IP. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial boosted their price objective on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and increased their target price for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $44.58, for a total value of $26,748.00. Following the sale, the director now owns 45,479 shares of the company’s stock, valued at approximately $2,027,453.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 3,000 shares of company stock valued at $117,678. Company 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.