Sanctuary Advisors LLC Increases Holdings in International Paper (NYSE:IP)

Sanctuary Advisors LLC grew its position in shares of International Paper (NYSE:IP) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,128 shares of the basic materials company’s stock after buying an additional 573 shares during the quarter. Sanctuary Advisors LLC’s holdings in International Paper were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Sierra Ocean LLC bought a new stake in International Paper during the fourth quarter valued at approximately $26,000. Secured Retirement Advisors LLC purchased a new position in shares of International Paper during the 4th quarter worth $205,000. Allworth Financial LP grew its position in shares of International Paper by 45.3% during the 4th quarter. Allworth Financial LP now owns 1,728 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 539 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of International Paper in the 4th quarter worth $788,000. Finally, Principal Securities Inc. raised its holdings in International Paper by 20.0% in the 4th quarter. Principal Securities Inc. now owns 9,285 shares of the basic materials company’s stock worth $500,000 after purchasing an additional 1,546 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on IP. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Down 0.4 %

NYSE IP opened at $55.33 on Tuesday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a market cap of $19.22 billion, a PE ratio of 35.24, a P/E/G ratio of 0.39 and a beta of 1.02. The stock’s 50 day moving average is $55.58 and its 200 day moving average is $52.81.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.