Private Advisor Group LLC Has $2.44 Million Position in International Paper (NYSE:IP)

Private Advisor Group LLC increased its position in shares of International Paper (NYSE:IP) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,249 shares of the basic materials company’s stock after buying an additional 524 shares during the quarter. Private Advisor Group LLC’s holdings in International Paper were worth $2,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its stake in shares of International Paper by 10.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,149 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 579 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of International Paper by 4,735.0% in the third quarter. International Assets Investment Management LLC now owns 418,133 shares of the basic materials company’s stock worth $20,426,000 after buying an additional 409,485 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of International Paper by 14.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 17,831 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 2,218 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of International Paper during the 3rd quarter valued at about $224,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of International Paper in the 3rd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $64.00 price target (down 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 objective 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 set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.88.

International Paper Stock Performance

International Paper stock opened at $55.33 on Tuesday. The company’s 50-day moving average is $55.58 and its two-hundred day moving average is $52.81. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a market cap of $19.22 billion, a PE ratio of 35.24, a PEG ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) 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%. Equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.34%. International Paper’s dividend payout ratio is presently 117.84%.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is owned by company insiders.

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.