Symphony Financial Ltd. Co. Has $1.79 Million Stock Holdings in International Paper (NYSE:IP)

Symphony Financial Ltd. Co. lifted its position in International Paper (NYSE:IP) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,919 shares of the basic materials company’s stock after purchasing an additional 1,709 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in International Paper were worth $1,794,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in International Paper during the third quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in International Paper in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new position in International Paper in the third quarter worth $28,000. Versant Capital Management Inc grew its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the last quarter. Finally, City State Bank increased its stake in shares of International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 2.5 %

NYSE:IP opened at $55.65 on Friday. The stock’s fifty day simple moving average is $56.06 and its 200-day simple moving average is $51.62. The firm has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36.

International Paper (NYSE:IP) last posted its 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 return on equity of 6.49% and a net margin of 2.25%. Equities research analysts expect that International Paper will post 1.07 earnings per share for the current year.

International Paper Announces Dividend

The company 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 dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.32%. International Paper’s dividend payout ratio is 158.12%.

Analysts Set New Price Targets

IP has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the transaction, the director now owns 37,745 shares in the company, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

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.