Future Financial Wealth Managment LLC Invests $64,000 in International Paper (NYSE:IP)

Future Financial Wealth Managment LLC bought a new stake in shares of International Paper (NYSE:IP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,652 shares of the basic materials company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Franklin Resources Inc. lifted its holdings in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares during the period. Norges Bank bought a new stake in International Paper during the 4th quarter worth approximately $94,913,000. AQR Capital Management LLC increased its holdings in International Paper by 35.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after purchasing an additional 777,273 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in International Paper by 138.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 682,775 shares of the basic materials company’s stock valued at $24,218,000 after purchasing an additional 396,427 shares in the last quarter. Finally, ING Groep NV raised its position in International Paper by 74.2% in the 4th quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock valued at $29,952,000 after purchasing an additional 352,934 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

NYSE IP opened at $46.61 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. International Paper has a 52-week low of $30.78 and a 52-week high of $47.40. The business has a 50 day simple moving average of $41.21 and a 200 day simple moving average of $38.24. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 95.12 and a beta of 1.06.

International Paper (NYSE:IP) last released its 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 firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. Analysts anticipate that International Paper will post 1.85 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s dividend payout ratio is currently 377.55%.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 3,600 shares of company stock valued at $144,744. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial boosted their price objective on shares of International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Wells Fargo & Company upped their price target on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

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.