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

Sierra Ocean LLC acquired a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 477 shares of the basic materials company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Secured Retirement Advisors LLC bought a new stake in International Paper in the fourth quarter valued at about $205,000. Allworth Financial LP increased its stake in International Paper by 45.3% in the fourth quarter. Allworth Financial LP now owns 1,728 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 539 shares during the period. Strategic Financial Concepts LLC bought a new stake in International Paper in the fourth quarter valued at about $788,000. Principal Securities Inc. boosted its position in International Paper by 20.0% in the fourth quarter. Principal Securities Inc. now owns 9,285 shares of the basic materials company’s stock valued at $500,000 after buying an additional 1,546 shares in the last quarter. Finally, bLong Financial LLC acquired a new position in International Paper in the fourth quarter valued at about $316,000. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $57.26 on Wednesday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 36.47 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $55.46 and its 200-day moving average is $52.41.

International Paper (NYSE:IP) last announced its quarterly earnings data 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%. Sell-side analysts forecast that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IP shares. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Truist Financial restated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average target price of $51.88.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the 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 sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

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.