1,745 Shares in International Paper Company (NYSE:IP) Acquired by ORG Wealth Partners LLC

ORG Wealth Partners LLC acquired a new stake in International Paper Company (NYSE:IP) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,745 shares of the basic materials company’s stock, valued at approximately $94,000.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Centricity Wealth Management LLC acquired a new position in shares of International Paper during the fourth quarter worth $26,000. Picton Mahoney Asset Management grew its position in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in International Paper by 90.2% in the 4th 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 in the last quarter. Bernard Wealth Management Corp. bought a new position in International Paper in the fourth quarter valued at about $37,000. Finally, Transce3nd LLC acquired a new stake in shares of International Paper during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.3%

NYSE:IP opened at $46.07 on Friday. International Paper Company has a 52 week low of $41.50 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The firm’s fifty day moving average is $47.07 and its 200-day moving average is $51.75. The firm has a market cap of $24.32 billion, a P/E ratio of 39.38, a P/E/G ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period last year, the company posted $0.17 EPS. The business’s revenue was up 27.8% compared to the same quarter last year. Equities analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.02%. International Paper’s dividend payout ratio is currently 158.12%.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on IP. Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. UBS Group initiated coverage on shares of International Paper in a report on Wednesday, June 4th. They set a “buy” rating and a $60.00 target price on the stock. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Finally, 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 Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.54.

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.