Cary Street Partners Financial LLC Purchases New Position in International Paper (NYSE:IP)

Cary Street Partners Financial LLC bought a new position in International Paper (NYSE:IP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,597 shares of the basic materials company's stock, valued at approximately $409,000.

Other large investors have also bought and sold shares of the company. Bastion Asset Management Inc. bought a new stake in shares of International Paper during the fourth quarter valued at about $1,060,000. Beryl Capital Management LLC bought a new position in shares of International Paper in the fourth quarter valued at approximately $5,547,000. Alyeska Investment Group L.P. increased its holdings in International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock worth $212,522,000 after acquiring an additional 2,266,762 shares during the period. Atalanta Sosnoff Capital LLC increased its holdings in International Paper by 11.5% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 5,490 shares of the basic materials company's stock worth $295,000 after acquiring an additional 566 shares during the period. Finally, AXA S.A. lifted its stake in International Paper by 205.9% in the 4th quarter. AXA S.A. now owns 50,342 shares of the basic materials company's stock worth $2,709,000 after purchasing an additional 33,886 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Wells Fargo & Company reissued an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a report on Friday. Finally, Truist Financial cut their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of "Hold" and a consensus target price of $54.21.

International Paper Trading Up 0.2%

NYSE:IP traded up $0.09 during mid-day trading on Tuesday, reaching $48.00. 5,177,312 shares of the company's stock traded hands, compared to its average volume of 8,113,392. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a 50 day moving average price of $48.83 and a 200-day moving average price of $53.44. International Paper has a 12-month low of $39.13 and a 12-month high of $60.36. The firm has a market capitalization of $25.34 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the company earned $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.85%. International Paper's dividend payout ratio is currently 158.12%.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.

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.