Centricity Wealth Management LLC Takes Position in International Paper (NYSE:IP)

Centricity Wealth Management LLC bought a new stake in International Paper (NYSE:IP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 488 shares of the basic materials company’s stock, valued at approximately $26,000.

Other hedge funds also recently modified their holdings of the company. Creative Planning increased its stake in shares of International Paper by 6.6% in the third quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock worth $3,562,000 after acquiring an additional 4,500 shares during the last quarter. Raymond James & Associates increased its stake in shares of International Paper by 29.6% in the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock worth $15,704,000 after acquiring an additional 73,367 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of International Paper in the third quarter worth $411,000. Sequoia Financial Advisors LLC increased its stake in shares of International Paper by 10.4% in the third quarter. Sequoia Financial Advisors LLC now owns 6,149 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 579 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of International Paper in the third quarter worth $40,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 0.8 %

International Paper stock opened at $55.62 on Friday. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 0.39 and a beta of 1.02. The company’s fifty day moving average price is $55.59 and its two-hundred day moving average price is $52.63. International Paper has a one year low of $33.16 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP) last issued 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 net margin of 2.99% and a return on equity of 4.75%. On average, analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm 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 is Monday, February 24th. International Paper’s dividend payout ratio is currently 117.84%.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, Truist Financial reissued a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Company 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.