14,650 Shares in International Paper (NYSE:IP) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC acquired a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,650 shares of the basic materials company’s stock, valued at approximately $788,000.

Several other large investors also recently added to or reduced their stakes in IP. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of International Paper by 429.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,576 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 2,900 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in International Paper by 677.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock worth $76,000 after buying an additional 1,355 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of International Paper during the 3rd quarter valued at $88,000. Wesbanco Bank Inc. grew its holdings in shares of International Paper by 11.7% during the 3rd quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company’s stock valued at $994,000 after acquiring an additional 2,134 shares in the last quarter. Finally, Creative Planning grew its stake in International Paper by 6.6% in the third quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock valued at $3,562,000 after purchasing an additional 4,500 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on IP shares. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.88.

International Paper Stock Performance

International Paper stock opened at $55.76 on Wednesday. The firm has a market capitalization of $19.37 billion, a P/E ratio of 35.52 and a beta of 1.02. The stock has a fifty day moving average price of $55.61 and a two-hundred day moving average price of $52.09. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. 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 announced its 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 return on equity of 4.75% and a net margin of 2.99%. As a group, analysts anticipate that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

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.