Bernard Wealth Management Corp. Invests $37,000 in International Paper (NYSE:IP)

Bernard Wealth Management Corp. bought a new stake in International Paper (NYSE:IP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 683 shares of the basic materials company’s stock, valued at approximately $37,000.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in International Paper in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of International Paper during the 4th quarter worth approximately $26,000. Picton Mahoney Asset Management raised 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 acquiring an additional 215 shares during the period. Versant Capital Management Inc lifted its holdings in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 295 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IP shares. Truist Financial restated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective for the company. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Finally, Bank of America began coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

Shares of NYSE IP opened at $44.64 on Wednesday. The business has a fifty day moving average price of $53.38 and a two-hundred day moving average price of $53.73. The stock has a market capitalization of $23.56 billion, a PE ratio of 28.43, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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, equities analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 4.14%. International Paper’s dividend payout ratio is 117.83%.

International Paper 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.