Yoffe Investment Management LLC Takes $378,000 Position in International Paper (NYSE:IP)

Yoffe Investment Management LLC acquired a new position in shares of International Paper (NYSE:IP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,020 shares of the basic materials company's stock, valued at approximately $378,000.

Other large investors also recently bought and sold shares of the company. SPC Financial Inc. raised its position in shares of 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 buying an additional 200 shares in the last quarter. AlphaMark Advisors LLC raised its stake in International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock valued at $205,000 after buying an additional 204 shares during the last quarter. Inspire Advisors LLC grew its position in shares of 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 acquiring an additional 204 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in 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. Finally, Picton Mahoney Asset Management lifted its stake in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IP shares. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Wall Street Zen downgraded shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Royal Bank of Canada restated an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $53.86.

International Paper Trading Down 0.4%

Shares of NYSE IP traded down $0.21 during trading on Friday, hitting $47.74. 6,991,131 shares of the company were exchanged, compared to its average volume of 7,654,896. The firm has a market capitalization of $25.20 billion, a PE ratio of 30.41, a P/E/G 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. The company has a fifty day moving average price of $48.00 and a 200-day moving average price of $52.86. 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 posted its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.38 billion. During the same quarter last year, the firm earned $0.17 EPS. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

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

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.