Wealth Enhancement Advisory Services LLC Has $4.36 Million Stock Position in International Paper Company (NYSE:IP)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,733 shares of the basic materials company's stock after selling 36,308 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in International Paper were worth $4,360,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IP. Capital Research Global Investors boosted its holdings in shares of International Paper by 68.8% during the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after buying an additional 12,191,361 shares during the period. FMR LLC boosted its holdings in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after buying an additional 8,720,575 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock worth $212,522,000 after buying an additional 2,266,762 shares during the period. Norges Bank bought a new stake in shares of International Paper during the 4th quarter worth $109,201,000. Finally, Slate Path Capital LP bought a new stake in shares of International Paper during the 4th quarter worth $102,796,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IP. UBS Group began coverage on shares of International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective for the company. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. Wells Fargo & Company reissued an "underweight" rating and issued a $40.00 price target (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of "Hold" and an average target price of $54.54.

International Paper Stock Performance

International Paper stock traded up $0.94 during mid-day trading on Friday, reaching $47.45. The company had a trading volume of 4,305,535 shares, compared to its average volume of 3,512,795. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. International Paper Company has a 52 week low of $42.26 and a 52 week high of $60.36. The company has a 50 day moving average of $47.05 and a 200-day moving average of $51.28. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 0.43 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data 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). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the prior year, the company posted $0.17 EPS. The company's quarterly revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper's dividend payout ratio is 158.12%.

Insider Activity

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company's stock.

International Paper 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.