C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $5.91 Million in International Paper (NYSE:IP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel reports. The firm bought 109,782 shares of the basic materials company’s stock, valued at approximately $5,908,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after acquiring an additional 537,825 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial reiterated a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Friday, January 31st. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Stock Up 1.5 %

Shares of International Paper stock opened at $56.25 on Tuesday. 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 $55.45 and its two-hundred day simple moving average is $52.34. The company has a market cap of $19.54 billion, a P/E ratio of 35.83 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data 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 2.89 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 117.84%.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value 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. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

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.