B. Riley Wealth Advisors Inc. Reduces Position in International Paper (NYSE:IP)

B. Riley Wealth Advisors Inc. reduced its stake in International Paper (NYSE:IP) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,488 shares of the basic materials company’s stock after selling 558 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in International Paper were worth $1,578,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in International Paper in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper in the third quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper during the third quarter valued at approximately $28,000. Innealta Capital LLC acquired a new stake in International Paper during the second quarter worth approximately $26,000. Finally, Eastern Bank purchased a new stake in International Paper in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IP. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada raised their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and issued a $61.00 price target (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Stock Up 0.5 %

Shares of NYSE:IP opened at $55.79 on Tuesday. The stock has a 50-day simple moving average of $54.11 and a 200-day simple moving average of $49.10. The stock has a market capitalization of $19.38 billion, a P/E ratio of 47.68 and a beta of 1.02. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. International Paper’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts forecast that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.4625 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper’s dividend payout ratio is currently 158.12%.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the transaction, the director now owns 38,945 shares in the company, valued at $1,872,475.60. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,000 shares of company stock valued at $158,904 over the last three months. 0.55% of the stock is owned by company 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.