Strategic Financial Concepts LLC Takes $788,000 Position in International Paper (NYSE:IP)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group acquired a new position in shares of International Paper during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $28,000. Versant Capital Management Inc boosted its holdings in shares of International Paper by 313.3% during the 4th 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 boosted its holdings in shares of International Paper by 107.7% during the 4th 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.

Analysts Set New Price Targets

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

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company's stock.

International Paper Trading Down 1.7 %

Shares of IP traded down $0.94 during mid-day trading on Friday, reaching $55.12. The company had a trading volume of 2,543,408 shares, compared to its average volume of 11,622,948. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The firm has a fifty day simple moving average of $55.59 and a 200-day simple moving average of $52.55. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's dividend payout ratio (DPR) is presently 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.