C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Holdings in International Paper (NYSE:IP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in International Paper (NYSE:IP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 109,782 shares of the basic materials company’s stock, valued at approximately $5,908,000.

Several other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after acquiring an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper during the third quarter valued at approximately $24,327,000. Aptus Capital Advisors LLC raised its position in shares of International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 785 shares during the period. Wedmont Private Capital bought a new position in shares of International Paper in the fourth quarter valued at approximately $376,000. Finally, Curi RMB Capital LLC acquired a new stake in shares of International Paper in the third quarter worth $4,870,000. 81.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BNP Paribas lowered shares of 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 issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. One equities research 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 company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Down 1.8 %

Shares of IP opened at $54.66 on Thursday. 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 company has a 50-day simple moving average of $55.55 and a 200-day simple moving average of $52.15. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The firm has a market capitalization of $18.99 billion, a P/E ratio of 34.82 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 research analysts expect that International Paper will post 2.89 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.38%. International Paper’s dividend payout ratio (DPR) is currently 117.84%.

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.