Pinion Investment Advisors LLC Boosts Holdings in International Paper (NYSE:IP)

Pinion Investment Advisors LLC boosted its position in shares of International Paper (NYSE:IP - Free Report) by 112.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 40,760 shares of the basic materials company's stock after purchasing an additional 21,538 shares during the quarter. Pinion Investment Advisors LLC's holdings in International Paper were worth $2,175,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IP. SPC Financial Inc. grew its stake in International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after purchasing an additional 200 shares in the last quarter. Inspire Advisors LLC raised its position in International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock valued at $665,000 after purchasing an additional 204 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock worth $820,000 after buying an additional 212 shares during the period. Picton Mahoney Asset Management grew its position in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after buying an additional 215 shares in the last quarter. Finally, Summit Financial LLC increased its stake in shares of International Paper by 4.3% during the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock valued at $293,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Up 1.8%

IP stock traded up $0.83 on Monday, hitting $46.72. 689,638 shares of the company's stock were exchanged, compared to its average volume of 7,282,091. The firm has a 50 day moving average price of $47.17 and a two-hundred day moving average price of $52.01. International Paper has a 12-month low of $41.50 and a 12-month high of $60.36. The stock has a market cap of $24.66 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. 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 issued 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). The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. International Paper's revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, equities research analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.96%. International Paper's dividend payout ratio is currently 158.12%.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper 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 sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IP. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. Finally, Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper currently has an average rating of "Hold" and an average price target of $54.54.

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.