Strategic Financial Concepts LLC Buys New Position in International Paper (NYSE:IP)

Strategic Financial Concepts LLC bought a new stake in International Paper (NYSE:IP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,650 shares of the basic materials company's stock, valued at approximately $788,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IP. Brooklyn Investment Group bought a new position in shares of International Paper in the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper in the third quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the third quarter worth about $28,000. Versant Capital Management Inc grew its holdings in shares of 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 purchasing an additional 448 shares during the last quarter. Finally, City State Bank grew its holdings 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 worth $36,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the business's 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 completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IP shares. Truist Financial restated a "buy" rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a report on Thursday. They set a "neutral" rating on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.88.

International Paper Stock Up 1.5 %

Shares of International Paper stock traded up $0.81 on Friday, reaching $56.25. The stock had a trading volume of 7,666,126 shares, compared to its average volume of 12,581,360. The company has a 50 day moving average price of $55.45 and a 200 day moving average price of $52.26. 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 has a 1 year low of $33.16 and a 1 year high of $60.36. The stock has a market capitalization of $19.54 billion, a P/E ratio of 35.83 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued 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 return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts forecast that International Paper will post 2.89 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, February 24th. International Paper's payout ratio is currently 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.