Wealth Enhancement Advisory Services LLC Has $6.35 Million Stock Holdings in International Paper (NYSE:IP)

Wealth Enhancement Advisory Services LLC reduced its position in shares of International Paper (NYSE:IP - Free Report) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,041 shares of the basic materials company's stock after selling 22,186 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in International Paper were worth $6,353,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in IP. Sierra Ocean LLC bought a new position in shares of International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in International Paper during the 4th quarter valued at $26,000. Picton Mahoney Asset Management increased its holdings in shares of 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 purchasing an additional 215 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 295 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in shares of International Paper in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Wall Street Zen cut International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. JPMorgan Chase & Co. started coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Finally, Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has an average rating of "Hold" and an average price target of $54.54.

International Paper Price Performance

Shares of NYSE:IP traded up $0.02 during trading on Wednesday, reaching $47.34. 3,830,942 shares of the company traded hands, compared to its average volume of 7,614,782. The firm has a market capitalization of $24.99 billion, a PE ratio of 30.15, a PEG ratio of 0.39 and a beta of 1.04. International Paper has a 52 week low of $41.50 and a 52 week high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $47.68 and its two-hundred day moving average is $52.70.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS 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 analyst estimates of $6.38 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.91%. International Paper's dividend payout ratio is currently 158.12%.

International Paper Company 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.