SeaCrest Wealth Management LLC Sells 2,372 Shares of International Paper (NYSE:IP)

SeaCrest Wealth Management LLC reduced its stake in International Paper (NYSE:IPFree Report) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,973 shares of the basic materials company’s stock after selling 2,372 shares during the period. SeaCrest Wealth Management LLC’s holdings in International Paper were worth $558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IP. BlackRock Inc. increased its holdings in shares of International Paper by 4.0% in the 1st quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after buying an additional 1,436,757 shares during the last quarter. State Street Corp increased its holdings in shares of International Paper by 0.9% in the 1st quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock worth $1,124,403,000 after buying an additional 218,754 shares during the last quarter. Greenhaven Associates Inc. increased its holdings in shares of International Paper by 0.3% in the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after buying an additional 25,640 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after buying an additional 1,011,315 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of International Paper by 7.6% in the 4th quarter. Morgan Stanley now owns 5,839,269 shares of the basic materials company’s stock worth $202,214,000 after buying an additional 413,320 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

Shares of IP stock opened at $39.02 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The company has a market capitalization of $13.51 billion, a P/E ratio of 47.59 and a beta of 0.98. The company’s 50-day simple moving average is $36.06 and its two-hundred day simple moving average is $35.49. International Paper has a one year low of $29.00 and a one year high of $41.28.

International Paper (NYSE:IPGet Free Report) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. As a group, equities analysts anticipate that International Paper will post 1.84 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.74%. International Paper’s dividend payout ratio is presently 225.61%.

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 7,600 shares of company stock worth $264,418. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IP. Wells Fargo & Company reduced their target price on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Truist Financial reissued a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Hold” and a consensus target price of $37.13.

Check Out Our Latest Stock Analysis on International Paper

International Paper Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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