Register Financial Advisors LLC Takes $73,000 Position in International Paper (NYSE:IP)

Register Financial Advisors LLC bought a new stake in International Paper (NYSE:IP) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,873 shares of the basic materials company’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of International Paper in the fourth quarter valued at approximately $27,000. Assetmark Inc. raised its position in shares of International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after buying an additional 649 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of International Paper in the fourth quarter valued at approximately $36,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Paper in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IP. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $52.00 target price on shares of International Paper in a research note on Thursday. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Finally, Wells Fargo & Company increased their target price on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the sale, the director now owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,600 shares of company stock valued at $144,744 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

International Paper Trading Down 0.2 %

Shares of IP traded down $0.08 during midday trading on Friday, hitting $43.17. The stock had a trading volume of 11,239,874 shares, compared to its average volume of 5,787,934. The business has a 50-day simple moving average of $41.76 and a two-hundred day simple moving average of $38.37. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $14.99 billion, a P/E ratio of 88.10 and a beta of 1.06. International Paper has a fifty-two week low of $30.78 and a fifty-two week high of $47.40.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, equities analysts forecast that International Paper will post 1.85 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s payout ratio is presently 377.55%.

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.