C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys Shares of 109,782 International Paper (NYSE:IP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of International Paper (NYSE:IP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,782 shares of the basic materials company's stock, valued at approximately $5,908,000.

Several other large investors have also recently bought and sold shares of IP. Brooklyn Investment Group bought a new stake in International Paper in the third quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in International Paper in the fourth quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the third quarter valued at approximately $28,000. Finally, Versant Capital Management Inc raised its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after buying an additional 448 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IP has been the topic of several research analyst reports. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. BNP Paribas lowered International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Truist Financial restated a "buy" rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.88.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

NYSE:IP traded down $0.44 during trading hours on Friday, reaching $55.62. 5,734,735 shares of the company were exchanged, compared to its average volume of 11,720,951. The company has a market capitalization of $19.32 billion, a P/E ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. 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 has a 50 day moving average of $55.59 and a 200 day moving average of $52.55.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results 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%. Research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's dividend payout ratio is currently 117.83%.

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.