Orca Wealth Management LLC Invests $875,000 in International Paper (NYSE:IP)

Orca Wealth Management LLC acquired a new stake in shares of International Paper (NYSE:IP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,252 shares of the basic materials company’s stock, valued at approximately $875,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IP. FMR LLC grew its position in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after purchasing an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of IP opened at $59.10 on Wednesday. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The stock has a market cap of $20.53 billion, a P/E ratio of 50.51 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $56.17 and a two-hundred day moving average of $51.35.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.13%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IP shares. Truist Financial lifted their price target on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average target price of $51.99.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the transaction, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,800 shares of company stock valued at $100,848 over the last quarter. Company insiders own 0.55% of the company’s stock.

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.