Wealthspire Advisors LLC Has $816,000 Position in International Paper (NYSE:IP)

Wealthspire Advisors LLC boosted its position in International Paper (NYSE:IP) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,166 shares of the basic materials company’s stock after purchasing an additional 1,833 shares during the period. Wealthspire Advisors LLC’s holdings in International Paper were worth $816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of International Paper by 28.7% during the fourth 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 during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at about $24,327,000. Aptus Capital Advisors LLC increased its holdings in shares of International Paper by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital acquired a new position in International Paper during the fourth quarter worth $376,000. Finally, Curi RMB Capital LLC bought a new position in International Paper in the 3rd quarter valued at about $4,870,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.1 %

Shares of International Paper stock opened at $55.27 on Wednesday. The company’s 50-day moving average price is $55.58 and its 200-day moving average price is $52.89. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 0.39 and a beta of 1.02. 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.

International Paper (NYSE:IP) last announced its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. On average, equities analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a yield of 3.35%. International Paper’s dividend payout ratio is currently 117.83%.

Analyst Ratings Changes

IP has been the subject of several recent analyst reports. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. BNP Paribas cut 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.