ProShare Advisors LLC Has $4.31 Million Stake in International Paper (NYSE:IP)

ProShare Advisors LLC increased its holdings in International Paper (NYSE:IP - Free Report) by 47.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,071 shares of the basic materials company's stock after acquiring an additional 25,769 shares during the period. ProShare Advisors LLC's holdings in International Paper were worth $4,309,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new position in International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management boosted its holdings in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 215 shares during the period. Venturi Wealth Management LLC boosted its holdings in International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 295 shares during the period. Finally, Bernard Wealth Management Corp. bought a new stake in International Paper during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. StockNews.com lowered International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Truist Financial dropped their price objective on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $54.21.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The shares were 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 in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

International Paper Price Performance

NYSE:IP opened at $50.48 on Tuesday. The company has a 50-day moving average of $48.72 and a 200-day moving average of $53.38. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a 52 week low of $40.63 and a 52 week high of $60.36. 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 released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS 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 business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the business posted $0.17 earnings per share. International Paper's revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.66%. International Paper's payout ratio is presently 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.

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