3,889 Shares in International Paper (NYSE:IP) Acquired by Aveo Capital Partners LLC

Aveo Capital Partners LLC bought a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,889 shares of the basic materials company’s stock, valued at approximately $209,000.

Several other hedge funds have also added to or reduced their stakes in the business. Asset Planning Inc acquired a new position in shares of International Paper in the 4th quarter worth approximately $63,000. V Square Quantitative Management LLC lifted its position in shares of International Paper by 14.1% in the 4th quarter. V Square Quantitative Management LLC now owns 20,753 shares of the basic materials company’s stock worth $1,117,000 after purchasing an additional 2,559 shares during the period. Palacios Wealth Management LLC acquired a new position in shares of International Paper in the 4th quarter worth approximately $271,000. Asset Management One Co. Ltd. lifted its position in shares of International Paper by 0.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 122,519 shares of the basic materials company’s stock worth $6,676,000 after purchasing an additional 772 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of International Paper in the 4th quarter worth approximately $5,908,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

International Paper Stock Performance

IP opened at $56.25 on Monday. 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 company’s fifty day moving average price is $55.45 and its two-hundred day moving average price is $52.30. 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 $19.54 billion, a price-to-earnings ratio of 35.83 and a beta of 1.02.

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

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. International Paper’s dividend payout ratio is currently 117.83%.

Insider Activity

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 value of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares in the company, valued at $2,168,896.55. This represents 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 this hyperlink. 0.55% of the stock is currently owned by corporate 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.