Wealth Enhancement Advisory Services LLC Boosts Stake in International Paper (NYSE:IP)

Wealth Enhancement Advisory Services LLC lifted its position in shares of International Paper (NYSE:IP) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,721 shares of the basic materials company’s stock after acquiring an additional 15,667 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in International Paper were worth $5,647,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in International Paper in the 4th quarter valued at about $37,000. StrategIQ Financial Group LLC acquired a new stake in International Paper in the 4th quarter valued at about $2,271,000. Franklin Resources Inc. raised its holdings in International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after buying an additional 199,687 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of International Paper during the 1st quarter worth approximately $1,312,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Up 0.4 %

IP stock opened at $43.34 on Tuesday. The company’s 50 day simple moving average is $41.76 and its 200-day simple moving average is $38.40. The firm has a market capitalization of $15.05 billion, a PE ratio of 88.45 and a beta of 1.06. International Paper has a 12 month low of $30.78 and a 12 month 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.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Equities analysts expect that International Paper will post 1.86 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s payout ratio is 377.55%.

Wall Street Analyst Weigh In

IP has been the subject of a number of recent analyst reports. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial restated a “buy” rating and set a $52.00 price target on shares of International Paper in a report on Thursday, June 27th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Wells Fargo & Company increased their price objective on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $44.71.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 3,600 shares of company stock valued at $147,054. 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.