Register Financial Advisors LLC Acquires Shares of 1,873 International Paper (NYSE:IP)

Register Financial Advisors LLC acquired a new position in shares of International Paper (NYSE:IP) in the first quarter, HoldingsChannel reports. The fund acquired 1,873 shares of the basic materials company’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Franklin Resources Inc. lifted its holdings in 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 buying an additional 4,960,005 shares during the period. Greenhaven Associates Inc. boosted its holdings in shares of International Paper by 0.3% during the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after purchasing an additional 25,640 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Paper by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after purchasing an additional 35,930 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of 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 worth $105,035,000 after acquiring an additional 777,273 shares during the last quarter. Finally, Norges Bank purchased a new stake in International Paper in the 4th quarter worth $94,913,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $44.58, for a total value of $26,748.00. Following the transaction, the director now owns 45,479 shares in the company, valued at $2,027,453.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 3,600 shares of company stock worth $144,744. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of IP stock traded down $0.08 during trading hours on Friday, reaching $43.17. 11,239,874 shares of the company’s stock were exchanged, compared to its average volume of 5,787,934. The business has a fifty day moving average price of $41.76 and a 200-day moving average price of $38.37. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $14.99 billion, a P/E ratio of 88.10 and a beta of 1.06. International Paper has a fifty-two week low of $30.78 and a fifty-two week high of $47.40.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Analysts predict that International Paper will post 1.85 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Thursday, May 23rd. International Paper’s payout ratio is presently 377.55%.

Wall Street Analyst Weigh In

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

International Paper 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.