Vise Technologies Inc. Takes Position in International Paper (NYSE:IP)

Vise Technologies Inc. bought a new stake in shares of International Paper (NYSE:IP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,557 shares of the basic materials company's stock, valued at approximately $461,000.

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

International Paper Stock Down 0.4%

Shares of NYSE:IP traded down $0.21 during trading on Friday, hitting $47.74. 6,690,364 shares of the company were exchanged, compared to its average volume of 7,654,896. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm's 50 day moving average price is $48.17 and its 200-day moving average price is $52.93. The stock 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. International Paper has a 12-month low of $41.50 and a 12-month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The company 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%. The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. On average, research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on IP. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Wall Street Zen downgraded shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company restated an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday. Finally, JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, International Paper has an average rating of "Hold" and an average target price of $53.86.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business'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 directly 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.35% of the company's stock.

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.