Summit Investment Advisors Inc. Has $182,000 Stake in International Paper (NYSE:IP)

Summit Investment Advisors Inc. cut its stake in International Paper (NYSE:IP) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,385 shares of the basic materials company’s stock after selling 270 shares during the quarter. Summit Investment Advisors Inc.’s holdings in International Paper were worth $182,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Sierra Ocean LLC purchased a new stake in International Paper in the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Picton Mahoney Asset Management lifted its position in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Versant Capital Management Inc boosted its holdings in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the last quarter. Finally, 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. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IP shares. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Wells Fargo & Company lowered their target price on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. Finally, Truist Financial lowered their price objective on shares of International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

International Paper Price Performance

Shares of NYSE:IP opened at $46.49 on Wednesday. The company has a 50-day moving average price of $51.53 and a two-hundred day moving average price of $53.57. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $24.54 billion, a PE ratio of 29.61, a P/E/G ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Equities analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.98%. International Paper’s dividend payout ratio (DPR) is 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.