EverSource Wealth Advisors LLC Lowers Position in International Paper (NYSE:IP)

EverSource Wealth Advisors LLC decreased its stake in International Paper (NYSE:IP) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,748 shares of the basic materials company’s stock after selling 1,943 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in International Paper were worth $202,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares during the period. SPC Financial Inc. lifted its position in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after acquiring an additional 200 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in shares of International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after acquiring an additional 204 shares during the period. Inspire Advisors LLC raised its stake in International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares during the period. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Finally, Truist Financial reaffirmed 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.86.

International Paper Trading Up 2.1 %

Shares of IP opened at $51.44 on Monday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a market cap of $27.06 billion, a P/E ratio of 32.76, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $55.18 and its 200-day simple moving average is $53.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business 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 3.60%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is presently 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.