Challenger Wealth Management Buys New Shares in International Paper (NYSE:IP)

Challenger Wealth Management purchased a new stake in shares of International Paper (NYSE:IP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,042 shares of the basic materials company's stock, valued at approximately $325,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of IP. Sierra Ocean LLC bought a new position in shares of International Paper during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in International Paper in the fourth quarter worth about $26,000. Picton Mahoney Asset Management grew its position in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Venturi Wealth Management LLC grew its position in International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after acquiring an additional 295 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in International Paper in the fourth quarter worth about $37,000. 81.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

IP has been the topic of several analyst reports. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $53.86.

International Paper Price Performance

Shares of IP stock traded down $0.09 during mid-day trading on Friday, hitting $47.86. 1,469,048 shares of the stock traded hands, compared to its average volume of 7,652,361. International Paper has a twelve month low of $41.50 and a twelve month high of $60.36. The firm has a market cap of $25.27 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company's 50-day simple moving average is $48.17 and its 200-day simple moving average is $52.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the firm earned $0.17 EPS. International Paper's quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's payout ratio is currently 158.12%.

About International Paper

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.