Axxcess Wealth Management LLC Sells 1,018 Shares of International Paper (NYSE:IP)

Axxcess Wealth Management LLC decreased its position in shares of International Paper (NYSE:IP) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,768 shares of the basic materials company’s stock after selling 1,018 shares during the quarter. Axxcess Wealth Management LLC’s holdings in International Paper were worth $580,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IP. FMR LLC raised its holdings in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the period. Geode Capital Management LLC grew its position in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after purchasing an additional 99,720 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of International Paper by 0.3% during the 3rd 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. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $161,006,000 after purchasing an additional 537,825 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 1.9 %

NYSE IP opened at $51.29 on Friday. The stock’s 50-day simple moving average is $54.96 and its two-hundred day simple moving average is $53.42. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $26.99 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IP. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday. They set an “overweight” rating and a $59.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Finally, Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Company 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.