Prossimo Advisors LLC Purchases 1,466 Shares of International Paper (NYSE:IP)

Prossimo Advisors LLC boosted its position in International Paper (NYSE:IP) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,802 shares of the basic materials company’s stock after acquiring an additional 1,466 shares during the quarter. Prossimo Advisors LLC’s holdings in International Paper were worth $635,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IP. Pacer Advisors Inc. raised its holdings in shares of 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 buying an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper during the third quarter worth about $24,327,000. Aptus Capital Advisors LLC lifted its holdings in shares of International Paper by 15.1% in the third 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 during the last quarter. Wedmont Private Capital acquired a new stake in shares of International Paper in the 4th quarter valued at approximately $376,000. Finally, Curi RMB Capital LLC bought a new stake in shares of International Paper during the 3rd quarter valued at approximately $4,870,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 2.0 %

IP opened at $57.26 on Wednesday. The stock has a market cap of $19.89 billion, a PE ratio of 36.47 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a fifty day moving average of $55.46 and a 200-day moving average of $52.41.

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 analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, sell-side analysts predict that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.23%. International Paper’s dividend payout ratio is currently 117.84%.

Insider Activity at International Paper

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IP. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

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.