1,883 Shares in International Paper (NYSE:IP) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new stake in shares of International Paper (NYSE:IP) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,883 shares of the basic materials company’s stock, valued at approximately $101,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in International Paper during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of International Paper during the third quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper during the third quarter valued at $28,000. Versant Capital Management Inc increased its stake in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the period. Finally, City State Bank lifted its holdings in International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.7 %

International Paper stock opened at $56.15 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.51 billion, a P/E ratio of 35.76 and a beta of 1.02. The business has a fifty day moving average of $55.68 and a two-hundred day moving average of $51.99. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that International Paper will post 2.89 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared 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. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is currently 117.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IP shares. BNP Paribas downgraded 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. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly 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 SEC, which is available at this link. Insiders own 0.55% of the company’s stock.

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.