C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Holdings in International Paper (NYSE:IP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in International Paper (NYSE:IP) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 109,782 shares of the basic materials company’s stock, valued at approximately $5,908,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its position in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the period. Geode Capital Management LLC increased its position in shares of International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after buying an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after buying an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after buying an additional 537,825 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by insiders.

International Paper Stock Up 1.5 %

International Paper stock opened at $56.25 on Tuesday. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 35.83 and a beta of 1.02. The firm’s fifty day moving average price is $55.45 and its two-hundred day moving average price is $52.34. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

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%. On average, equities research analysts predict that International Paper will post 2.89 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 117.84%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IP shares. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average price target 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.