Forte Capital LLC ADV Lowers Position in International Paper (NYSE:IP)

Forte Capital LLC ADV reduced its stake in International Paper (NYSE:IP) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,995 shares of the basic materials company’s stock after selling 2,286 shares during the quarter. Forte Capital LLC ADV’s holdings in International Paper were worth $2,583,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IP. Creative Planning increased its position in shares of International Paper by 6.6% during the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock valued at $3,562,000 after purchasing an additional 4,500 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of International Paper by 15.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,402 shares of the basic materials company’s stock valued at $264,000 after purchasing an additional 731 shares during the last quarter. Blue Trust Inc. increased its position in shares of International Paper by 240.7% during the 3rd quarter. Blue Trust Inc. now owns 5,471 shares of the basic materials company’s stock valued at $267,000 after purchasing an additional 3,865 shares during the last quarter. Raymond James & Associates grew its stake in shares of International Paper by 29.6% during the 3rd quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock worth $15,704,000 after acquiring an additional 73,367 shares during the period. Finally, Foundations Investment Advisors LLC bought a new position in shares of International Paper during the 3rd quarter worth $411,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Down 1.8 %

Shares of NYSE IP opened at $56.10 on Friday. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The business has a 50-day simple moving average of $55.57 and a two-hundred day simple moving average of $52.52. 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 company has a market cap of $19.49 billion, a P/E ratio of 35.73, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings results 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%. Research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.30%. International Paper’s dividend payout ratio is 117.84%.

Analyst Ratings Changes

IP has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. Finally, Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. 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 company. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value 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. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by 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.