Wakefield Asset Management LLLP Acquires Shares of 9,335 International Paper (NYSE:IP)

Wakefield Asset Management LLLP bought a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,335 shares of the basic materials company’s stock, valued at approximately $502,000.

A number of other institutional investors have also made changes to their positions in IP. First Horizon Advisors Inc. increased its position in shares of International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 177 shares during the last quarter. AlphaMark Advisors LLC increased its stake in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 205 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after buying an additional 212 shares in the last quarter. Finally, Empirical Finance LLC raised its position in International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Up 1.0 %

NYSE:IP opened at $56.28 on Friday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a 50 day simple moving average of $55.67 and a two-hundred day simple moving average of $52.93. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.55 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

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

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.29%. International Paper’s payout ratio is 117.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IP. Truist Financial restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Bank of America began coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

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.