SPC Financial Inc. Boosts Stake in International Paper (NYSE:IP)

SPC Financial Inc. increased its stake in International Paper (NYSE:IP) by 2.8% in the 1st quarter, Holdings Channel reports. The fund owned 14,450 shares of the basic materials company’s stock after buying an additional 400 shares during the quarter. SPC Financial Inc.’s holdings in International Paper were worth $564,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 295 shares during the period. Czech National Bank increased its holdings in shares of International Paper by 0.5% in the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 295 shares during the period. Kentucky Retirement Systems lifted its stake in shares of International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 318 shares during the period. Finally, Outfitter Financial LLC grew its position in International Paper by 1.1% during the 4th quarter. Outfitter Financial LLC now owns 30,350 shares of the basic materials company’s stock worth $1,097,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.5 %

IP traded up $0.21 on Thursday, hitting $42.91. The company had a trading volume of 4,172,270 shares, compared to its average volume of 5,765,349. The firm has a market capitalization of $14.90 billion, a P/E ratio of 87.10 and a beta of 1.06. International Paper has a 52-week low of $30.78 and a 52-week high of $47.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The stock has a fifty day simple moving average of $43.13 and a 200-day simple moving average of $38.74.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that International Paper will post 1.9 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.31%. International Paper’s payout ratio is 377.55%.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $52.00 price objective on shares of International Paper in a research note on Thursday, June 27th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Wells Fargo & Company increased their target price on shares of International Paper from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday. They set a “hold” rating and a $48.70 price target on the stock. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average price target of $45.46.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,600 shares of company stock worth $147,054 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.