1,199 Shares in International Paper (NYSE:IP) Purchased by WealthTrak Capital Management LLC

WealthTrak Capital Management LLC bought a new position in International Paper (NYSE:IP) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,199 shares of the basic materials company’s stock, valued at approximately $65,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of International Paper during the 3rd quarter worth $25,000. Sierra Ocean LLC purchased a new stake in International Paper during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper during the fourth quarter valued at about $26,000. Legacy Investment Solutions LLC bought a new stake in International Paper during the third quarter worth about $28,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 2.5 %

NYSE IP opened at $53.23 on Friday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The stock has a market capitalization of $28.01 billion, a PE ratio of 33.90, a PEG ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business’s 50-day moving average is $54.86 and its 200 day moving average is $53.67.

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 return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

About International Paper

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.