Bleakley Financial Group LLC Raises Stake in International Paper (NYSE:IP)

Bleakley Financial Group LLC increased its stake in shares of International Paper (NYSE:IP) by 12.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,100 shares of the basic materials company’s stock after acquiring an additional 698 shares during the period. Bleakley Financial Group LLC’s holdings in International Paper were worth $328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper during the 3rd quarter worth approximately $24,327,000. Aptus Capital Advisors LLC lifted its position in International Paper by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital acquired a new position in International Paper during the 4th quarter worth approximately $376,000. Finally, Curi RMB Capital LLC acquired a new position in International Paper during the 3rd quarter worth approximately $4,870,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of IP opened at $55.76 on Wednesday. The business’s fifty day moving average price is $55.61 and its 200 day moving average price is $52.09. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The stock has a market capitalization of $19.37 billion, a PE ratio of 35.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. Equities research analysts forecast that International Paper will post 2.89 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IP. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.88.

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.