Palacios Wealth Management LLC Invests $271,000 in International Paper (NYSE:IP)

Palacios Wealth Management LLC bought a new stake in International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,835 shares of the basic materials company's stock, valued at approximately $271,000.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of International Paper in the 3rd quarter valued at approximately $24,327,000. Aptus Capital Advisors LLC lifted its position in shares of International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock valued at $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of International Paper in the 4th quarter valued at approximately $376,000. Finally, Curi RMB Capital LLC purchased a new stake in shares of International Paper in the 3rd quarter valued at approximately $4,870,000. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper 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 transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.55% of the company's stock.

International Paper Stock Up 2.0 %

Shares of International Paper stock traded up $1.14 during midday trading on Tuesday, reaching $57.26. 7,137,144 shares of the company's stock traded hands, compared to its average volume of 12,248,117. The company has a market cap of $19.89 billion, a price-to-earnings ratio of 36.47 and a beta of 1.02. The company's 50 day simple moving average is $55.46 and its 200 day simple moving average is $52.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its 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 return on equity of 4.75% and a net margin of 2.99%. Equities analysts expect that International Paper will post 2.89 earnings per share for the current fiscal 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 issued a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.23%. International Paper's dividend payout ratio (DPR) is presently 117.84%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IP. BNP Paribas downgraded shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Truist Financial reissued a "buy" rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.88.

About International Paper

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.