Stratos Wealth Partners LTD. Buys 5,980 Shares of International Paper (NYSE:IP)

Stratos Wealth Partners LTD. raised its stake in shares of International Paper (NYSE:IP - Free Report) by 76.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,792 shares of the basic materials company's stock after acquiring an additional 5,980 shares during the period. Stratos Wealth Partners LTD.'s holdings in International Paper were worth $742,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IP. FMR LLC increased its position in International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company's stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of International Paper in the 3rd quarter worth approximately $84,526,000. Finally, Artemis Investment Management LLP boosted its holdings in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock worth $108,706,000 after buying an additional 1,202,632 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred 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 $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BNP Paribas cut shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Truist Financial restated a "buy" rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America assumed coverage on International Paper in a report on Thursday. They set a "neutral" rating for the company. One analyst has rated the stock with a sell rating, three have assigned 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 has an average rating of "Moderate Buy" and a consensus price target of $51.88.

International Paper Price Performance

NYSE:IP traded up $0.81 on Friday, reaching $56.25. 7,666,126 shares of the company's stock traded hands, compared to its average volume of 12,418,480. The firm has a market cap of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $55.46 and a 200-day simple moving average of $52.19. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. Equities research analysts forecast that International Paper will post 2.89 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.29%. International Paper's payout ratio is 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.