B. Riley Wealth Advisors Inc. Reduces Holdings in International Paper (NYSE:IP)

B. Riley Wealth Advisors Inc. reduced its position in shares of International Paper (NYSE:IP - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,064 shares of the basic materials company's stock after selling 5,424 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in International Paper were worth $1,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of International Paper in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management lifted its stake 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 valued at $29,000 after buying an additional 215 shares during the period. Venturi Wealth Management LLC lifted its stake 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 valued at $33,000 after buying an additional 295 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new position in International Paper in the fourth quarter valued at approximately $37,000. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IP shares. Wells Fargo & Company reissued an "underweight" rating and issued a $40.00 price target (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. 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. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective for the company. Finally, Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $53.86.

International Paper Stock Down 0.4%

International Paper stock traded down $0.21 during trading on Friday, hitting $47.74. 6,991,131 shares of the company were exchanged, compared to its average volume of 7,654,896. The business's 50 day moving average is $48.00 and its 200 day moving average is $52.86. International Paper has a 52 week low of $41.50 and a 52 week high of $60.36. The company has a market capitalization of $25.20 billion, a P/E ratio of 30.41, a PEG ratio of 0.39 and a beta of 1.03. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter last year, the company posted $0.17 EPS. The company's quarterly revenue was up 27.8% compared to the same quarter last year. Analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.88%. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company's 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 transaction, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

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.