Kingswood Wealth Advisors LLC Trims Stock Position in International Paper (NYSE:IP)

Kingswood Wealth Advisors LLC trimmed its stake in International Paper (NYSE:IP) by 71.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,730 shares of the basic materials company’s stock after selling 9,218 shares during the period. Kingswood Wealth Advisors LLC’s holdings in International Paper were worth $201,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares during the period. Point72 Asset Management L.P. lifted its position in International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of International Paper by 125.1% in the 3rd 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. Ceredex Value Advisors LLC bought a new position in shares of International Paper in the 3rd quarter worth about $84,526,000. Finally, Artemis Investment Management LLP boosted its stake in International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $55.65 on Friday. The company’s 50-day simple moving average is $56.06 and its two-hundred day simple moving average is $51.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36.

International Paper (NYSE:IP) last issued 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 2.25% and a return on equity of 6.49%. As a group, analysts predict that International Paper will post 1.07 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 158.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IP. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Friday. Finally, BNP Paribas lowered 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 note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

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 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 directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

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.