Tounjian Advisory Partners LLC Acquires New Position in International Paper (NYSE:IP)

Tounjian Advisory Partners LLC bought a new position in shares of International Paper (NYSE:IP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,374 shares of the basic materials company's stock, valued at approximately $1,247,000.

A number of other large investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in International Paper by 65.1% during the 1st quarter. Farther Finance Advisors LLC now owns 11,563 shares of the basic materials company's stock worth $620,000 after acquiring an additional 4,560 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of International Paper during the first quarter worth $42,000. First Citizens Bank & Trust Co. bought a new position in shares of International Paper during the first quarter worth $202,000. Capital Investment Advisors LLC grew its holdings in shares of International Paper by 6.0% in the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after buying an additional 235 shares during the period. Finally, E. Ohman J or Asset Management AB increased its position in shares of International Paper by 31.1% in the 1st quarter. E. Ohman J or Asset Management AB now owns 21,100 shares of the basic materials company's stock valued at $1,126,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research analyst reports. Wall Street Zen lowered International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and set a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Finally, Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They issued 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $54.54.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company's stock.

International Paper Stock Performance

NYSE:IP traded up $0.06 during mid-day trading on Thursday, hitting $47.14. The stock had a trading volume of 2,746,619 shares, compared to its average volume of 7,381,869. The company's 50 day simple moving average is $47.13 and its 200 day simple moving average is $52.27. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 30.03, a PEG 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 has a twelve month low of $41.50 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results 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 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 quarter in the prior year, the firm posted $0.17 earnings per share. The business's revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 annualized dividend and a dividend yield of 3.92%. 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.