Sierra Ocean LLC Invests $26,000 in International Paper (NYSE:IP)

Sierra Ocean LLC purchased a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 477 shares of the basic materials company’s stock, valued at approximately $26,000.

Several other large investors have also modified their holdings of the stock. Brooklyn Investment Group bought a new position in International Paper in the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in International Paper in the third quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in International Paper in the third quarter worth about $28,000. Versant Capital Management Inc lifted its holdings in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank lifted its holdings in International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent research reports. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Insider Activity at International Paper

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

International Paper Trading Up 2.0 %

Shares of NYSE:IP opened at $57.26 on Wednesday. The firm has a fifty day moving average of $55.46 and a two-hundred day moving average of $52.41. The firm has a market capitalization of $19.89 billion, a P/E ratio of 36.47 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. On average, equities analysts expect that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is presently 117.84%.

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.