Asset Planning Inc Takes $63,000 Position in International Paper (NYSE:IP)

Asset Planning Inc acquired a new stake in International Paper (NYSE:IP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,169 shares of the basic materials company’s stock, valued at approximately $63,000.

A number of other large investors also recently made changes to their positions in IP. FMR LLC increased its stake in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after purchasing an additional 8,370,273 shares during the period. Geode Capital Management LLC increased its stake in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its stake in International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 worth $174,867,000 after acquiring an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in 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 worth $161,006,000 after acquiring an additional 537,825 shares during the period. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

International Paper Trading Up 1.5 %

NYSE IP opened at $56.25 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a market cap of $19.54 billion, a price-to-earnings ratio of 35.83 and a beta of 1.02. The business’s fifty day moving average is $55.46 and its 200 day moving average is $52.19.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, sell-side analysts expect that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is presently 117.84%.

Analyst Upgrades and Downgrades

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