Wedmont Private Capital Has $251,000 Stock Position in International Paper (NYSE:IP)

Wedmont Private Capital lessened its holdings in International Paper (NYSE:IP) by 32.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,711 shares of the basic materials company’s stock after selling 2,244 shares during the period. Wedmont Private Capital’s holdings in International Paper were worth $251,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in IP. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in International Paper during the fourth quarter worth about $26,000. Picton Mahoney Asset Management grew its position in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Venturi Wealth Management LLC grew its position 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. Finally, Bernard Wealth Management Corp. purchased a new stake in International Paper in the 4th quarter valued at about $37,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 1.0%

IP stock opened at $47.12 on Thursday. The stock has a fifty day moving average of $47.13 and a 200-day moving average of $52.27. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The company has a market capitalization of $24.87 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 0.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. As a group, equities research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Friday, May 23rd. International Paper’s payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Paper presently has a consensus rating of “Hold” and a consensus price target of $54.54.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

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.