Wealth Enhancement Advisory Services LLC Has $5.65 Million Stock Position in International Paper (NYSE:IP)

Wealth Enhancement Advisory Services LLC increased its position in International Paper (NYSE:IP) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,721 shares of the basic materials company’s stock after purchasing an additional 15,667 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in International Paper were worth $5,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in International Paper by 37.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 295 shares during the period. Czech National Bank increased its position in International Paper by 0.5% in the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 295 shares during the period. Kentucky Retirement Systems boosted its holdings in International Paper by 1.1% during the fourth quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after buying an additional 298 shares during the last quarter. Outfitter Financial LLC boosted its holdings in International Paper by 1.1% during the fourth quarter. Outfitter Financial LLC now owns 30,350 shares of the basic materials company’s stock worth $1,097,000 after buying an additional 325 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings 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 worth $526,000 after buying an additional 334 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial restated a “buy” rating and set a $52.00 target price on shares of International Paper in a report on Thursday, June 27th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Company lifted their price objective on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.71.

International Paper Stock Performance

IP opened at $43.34 on Tuesday. The business has a fifty day simple moving average of $41.76 and a 200 day simple moving average of $38.40. The company has a market capitalization of $15.05 billion, a PE ratio of 88.45 and a beta of 1.06. International Paper has a 1 year low of $30.78 and a 1 year high of $47.40. 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 (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Research analysts expect that International Paper will post 1.86 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were given a dividend of $0.4625 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.27%. International Paper’s dividend payout ratio is currently 377.55%.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the transaction, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 3,600 shares of company stock worth $147,054 in the last ninety days. 0.55% of the stock is owned by insiders.

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.