Cetera Advisors LLC Purchases 1,784 Shares of International Paper (NYSE:IP)

Cetera Advisors LLC raised its position in shares of International Paper (NYSE:IP) by 4.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,913 shares of the basic materials company’s stock after purchasing an additional 1,784 shares during the quarter. Cetera Advisors LLC’s holdings in International Paper were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. Desjardins Global Asset Management Inc. raised its position in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in International Paper by 3.0% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,304 shares of the basic materials company’s stock worth $328,000 after buying an additional 300 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in International Paper by 2.5% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,974 shares of the basic materials company’s stock worth $411,000 after buying an additional 311 shares during the period. Fiduciary Trust Co. increased its holdings in International Paper by 4.6% in the 2nd quarter. Fiduciary Trust Co. now owns 7,188 shares of the basic materials company’s stock worth $229,000 after buying an additional 316 shares during the period. Finally, MAI Capital Management increased its holdings in International Paper by 1.1% in the 1st quarter. MAI Capital Management now owns 30,333 shares of the basic materials company’s stock worth $1,094,000 after buying an additional 324 shares during the period. 80.78% of the stock is currently owned by institutional investors.

International Paper Stock Performance

NYSE:IP opened at $32.58 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 1.75. The company has a fifty day moving average of $34.19 and a two-hundred day moving average of $33.26. The stock has a market capitalization of $11.27 billion, a PE ratio of 44.03 and a beta of 1.05. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.89.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.81 billion. International Paper had a net margin of 1.31% and a return on equity of 10.79%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, research analysts forecast that International Paper will post 2.1 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s dividend payout ratio is presently 250.00%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IP. Citigroup increased their price target on shares of International Paper from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Jefferies Financial Group cut their price target on shares of International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, October 18th. Truist Financial raised shares of International Paper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $43.00 in a research note on Thursday, September 21st. Finally, StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.89.

International Paper Profile

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.