International Paper Company (NYSE:IP) Stock Position Raised by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in International Paper Company by 22.7%, owning a total of 96,702 shares valued at $5,159,000.
• International Paper reported a quarterly EPS of $0.20, missing estimates by $0.18, despite a 42.9% increase in revenue from the same quarter last year.
• The company declared a quarterly dividend of $0.4625, representing an annualized yield of 4.0%, with a payout ratio of 158.12%.

Cetera Investment Advisers increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 22.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,702 shares of the basic materials company's stock after buying an additional 17,872 shares during the quarter. Cetera Investment Advisers' holdings in International Paper were worth $5,159,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its stake in International Paper by 10.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 36,817 shares of the basic materials company's stock valued at $1,964,000 after buying an additional 3,452 shares during the period. Lifeworks Advisors LLC boosted its holdings in shares of International Paper by 28.9% in the first quarter. Lifeworks Advisors LLC now owns 7,835 shares of the basic materials company's stock valued at $418,000 after acquiring an additional 1,755 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in International Paper by 17.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 4,958,177 shares of the basic materials company's stock worth $264,519,000 after purchasing an additional 740,932 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in International Paper by 5.4% in the first quarter. Pinnacle Associates Ltd. now owns 6,784 shares of the basic materials company's stock valued at $362,000 after purchasing an additional 349 shares during the period. Finally, Close Asset Management Ltd boosted its holdings in International Paper by 1,010.7% in the 1st quarter. Close Asset Management Ltd now owns 22,880 shares of the basic materials company's stock valued at $1,221,000 after purchasing an additional 20,820 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Down 0.8%

Shares of International Paper stock traded down $0.37 during trading hours on Monday, hitting $46.04. The company's stock had a trading volume of 5,357,123 shares, compared to its average volume of 6,707,098. The business has a fifty day moving average of $49.22 and a 200 day moving average of $50.75. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $24.30 billion, a PE ratio of -460.40, a P/E/G ratio of 0.52 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company's revenue for the quarter was up 42.9% compared to the same quarter last year. As a group, equities analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. International Paper's payout ratio is currently -1,850.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IP shares. UBS Group started coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 target price (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Finally, Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $55.65.

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.