1,199 Shares in International Paper (NYSE:IP) Bought by WealthTrak Capital Management LLC

WealthTrak Capital Management LLC acquired a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,199 shares of the basic materials company’s stock, valued at approximately $65,000.

Several other large investors have also bought and sold shares of IP. Sierra Ocean LLC bought a new position in shares of International Paper in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in International Paper during the fourth quarter worth $26,000. Brooklyn Investment Group purchased a new position in International Paper in the third quarter worth $25,000. Picton Mahoney Asset Management grew its stake in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of International Paper during the 3rd quarter valued at $28,000. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Trading Down 2.5 %

NYSE:IP opened at $53.23 on Friday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The stock’s fifty day moving average price is $54.86 and its two-hundred day moving average price is $53.67. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market cap of $28.01 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.39 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 (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%. As a group, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

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.