Centricity Wealth Management LLC Buys New Shares in International Paper (NYSE:IP)

Centricity Wealth Management LLC bought a new stake in International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 488 shares of the basic materials company’s stock, valued at approximately $26,000.

Several other hedge funds have also made changes to their positions in IP. First Horizon Advisors Inc. grew its holdings in International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 177 shares during the period. AlphaMark Advisors LLC grew its holdings in International Paper by 5.7% during the 4th 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. MassMutual Private Wealth & Trust FSB grew its holdings in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 205 shares during the period. Kestra Private Wealth Services LLC grew its holdings in International Paper by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after acquiring an additional 212 shares during the period. Finally, Empirical Finance LLC grew its holdings in International Paper by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 224 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 0.8 %

Shares of NYSE IP opened at $55.62 on Friday. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company’s fifty day moving average is $55.59 and its 200-day moving average is $52.63. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. Equities research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.33%. International Paper’s dividend payout ratio is currently 117.84%.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, 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 filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on IP. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.88.

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.