Checchi Capital Advisers LLC Acquires New Position in International Paper (NYSE:IP)

Checchi Capital Advisers LLC bought a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 4,093 shares of the basic materials company’s stock, valued at approximately $220,000.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in International Paper in the third quarter worth $25,000. Sierra Ocean LLC acquired a new position in shares of International Paper during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the third quarter valued at about $28,000. Finally, Legacy Investment Solutions LLC acquired a new position in International Paper during the third quarter worth about $28,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 1.0 %

NYSE IP opened at $56.28 on Friday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a 50-day moving average of $55.67 and a 200-day moving average of $52.93. The company has a market cap of $19.55 billion, a P/E ratio of 35.85, a P/E/G ratio of 0.39 and a beta of 1.02. 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 (NYSE:IP) last posted its quarterly earnings results 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%. As a group, equities analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. International Paper’s payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

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