International Paper (NYSE:IP) Stock Position Lifted by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. raised its stake in shares of International Paper (NYSE:IP) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,230 shares of the basic materials company’s stock after buying an additional 6,056 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in International Paper were worth $1,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Paper by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after acquiring an additional 35,930 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of International Paper by 82.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after acquiring an additional 2,755,441 shares in the last quarter. Finally, Norges Bank acquired a new stake in International Paper in the 4th quarter worth approximately $94,913,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the transaction, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 3,000 shares of company stock valued at $129,630 over the last quarter. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IP shares. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Stifel Nicolaus assumed coverage on International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Truist Financial boosted their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada increased their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with 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 stock has a consensus rating of “Moderate Buy” and an average price target of $49.96.

International Paper Stock Up 1.2 %

NYSE:IP traded up $0.54 on Wednesday, hitting $46.46. 6,271,253 shares of the company’s stock were exchanged, compared to its average volume of 5,816,706. The company has a market cap of $16.14 billion, a P/E ratio of 93.71 and a beta of 1.06. The firm has a 50-day moving average price of $44.92 and a 200-day moving average price of $39.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 52 week low of $31.76 and a 52 week high of $47.40.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, analysts expect that International Paper will post 1.64 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.98%. International Paper’s dividend payout ratio is currently 377.55%.

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.