B. Riley Wealth Advisors Inc. Has $1.49 Million Stock Holdings in International Paper (NYSE:IP)

B. Riley Wealth Advisors Inc. lowered its stake in shares of International Paper (NYSE:IP) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,174 shares of the basic materials company’s stock after selling 6,056 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in International Paper were worth $1,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after buying an additional 475 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of International Paper in the fourth quarter valued at $27,000. Assetmark Inc. raised its position in shares of International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of International Paper during the 4th quarter worth about $36,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in International Paper in the 4th quarter valued at about $37,000. 81.95% of the stock is owned by institutional investors.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $44.58, for a total transaction of $26,748.00. Following the completion of the transaction, the director now owns 45,479 shares in the company, valued at approximately $2,027,453.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 3,600 shares of company stock worth $144,744 over the last ninety days. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IP. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial raised their price target on shares of International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company boosted their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

International Paper Stock Performance

International Paper stock opened at $46.25 on Thursday. The business has a 50 day moving average of $40.44 and a 200-day moving average of $37.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. International Paper has a 1 year low of $30.23 and a 1 year high of $46.40. The company has a market capitalization of $16.06 billion, a P/E ratio of 94.39 and a beta of 1.06.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. On average, equities research analysts predict that International Paper will post 1.84 earnings per share 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 $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s dividend payout ratio is currently 377.55%.

International Paper Company 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.