Proficio Capital Partners LLC Invests $9.06 Million in International Paper (NYSE:IP)

Proficio Capital Partners LLC bought a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, HoldingsChannel.com reports. The fund bought 168,403 shares of the basic materials company’s stock, valued at approximately $9,063,000.

Other large investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper in the fourth quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in shares of International Paper in the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in International Paper during the 3rd quarter valued at $28,000. Finally, Ashton Thomas Securities LLC purchased a new stake in International Paper during the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

International Paper stock opened at $56.34 on Monday. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The stock’s 50 day simple moving average is $55.71 and its two-hundred day simple moving average is $53.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market cap of $29.64 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results 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%. As a group, analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analysts Set New Price Targets

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