4,926 Shares in International Paper (NYSE:IP) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC acquired a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,926 shares of the basic materials company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IP. Venturi Wealth Management LLC lifted its position in International Paper by 37.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 295 shares during the period. Kentucky Retirement Systems boosted its position in shares of International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after purchasing an additional 298 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of International Paper by 19.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock worth $67,000 after buying an additional 314 shares during the last quarter. Outfitter Financial LLC increased its position in International Paper by 1.1% during the 4th quarter. Outfitter Financial LLC now owns 30,350 shares of the basic materials company’s stock valued at $1,097,000 after buying an additional 325 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its stake in International Paper by 2.3% during the fourth quarter. Wealthspire Advisors LLC now owns 14,554 shares of the basic materials company’s stock valued at $526,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 3,600 shares of company stock worth $144,744 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IP has been the subject of several analyst reports. Wells Fargo & Company raised their price target on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Truist Financial raised their price target on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. 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, Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.71.

International Paper Price Performance

IP stock opened at $46.08 on Friday. International Paper has a 52 week low of $30.23 and a 52 week high of $46.77. The firm has a market capitalization of $16.01 billion, a P/E ratio of 94.04 and a beta of 1.06. The company has a fifty day simple moving average of $40.79 and a two-hundred day simple moving average of $38.08. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings results 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). 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 for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts anticipate that International Paper will post 1.84 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s dividend payout ratio is presently 377.55%.

International Paper 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.