International Paper (NYSE:IP) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in shares of International Paper (NYSE:IP) by 42.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,763 shares of the basic materials company’s stock after purchasing an additional 2,614 shares during the period. Sequoia Financial Advisors LLC’s holdings in International Paper were worth $472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in shares of International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new position in International Paper in the 3rd quarter valued at $24,327,000. Wedmont Private Capital purchased a new position in International Paper during the 4th quarter worth $376,000. Everence Capital Management Inc. acquired a new stake in shares of International Paper in the 4th quarter worth $828,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of International Paper by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IP. Truist Financial reissued a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Stock Up 0.7 %

International Paper stock opened at $51.93 on Wednesday. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The firm has a market capitalization of $27.32 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock’s fifty day moving average is $55.11 and its two-hundred day moving average is $53.41. 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 issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) 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%. Analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.56%. International Paper’s dividend 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.