Palacios Wealth Management LLC Invests $271,000 in International Paper (NYSE:IP)

Palacios Wealth Management LLC bought a new position in International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,835 shares of the basic materials company’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in IP. Exchange Traded Concepts LLC boosted its holdings in International Paper by 677.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 1,355 shares in the last quarter. Creative Planning boosted its holdings 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 acquiring an additional 4,500 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in International Paper by 90.4% in the third quarter. Vontobel Holding Ltd. now owns 10,969 shares of the basic materials company’s stock valued at $536,000 after acquiring an additional 5,207 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in International Paper by 15.6% in the third quarter. Bleakley Financial Group LLC now owns 5,402 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 731 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in International Paper by 20.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,355 shares of the basic materials company’s stock valued at $2,069,000 after acquiring an additional 7,201 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other 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 owns 37,145 shares of the company’s stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.

International Paper Stock Performance

Shares of International Paper stock opened at $55.59 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.31 billion, a P/E ratio of 35.41 and a beta of 1.02. The business has a fifty day simple moving average of $55.48 and a two-hundred day simple moving average of $52.17. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, equities analysts forecast that International Paper will post 2.89 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is presently 117.84%.

Wall Street Analyst Weigh In

IP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Bank of America initiated coverage on shares of International Paper in a report on Thursday. They issued a “neutral” rating on the stock. Finally, Truist Financial reiterated 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 investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

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.