Cetera Investment Advisers Has $4.24 Million Stock Position in International Paper (NYSE:IP)

Cetera Investment Advisers decreased its position in International Paper (NYSE:IP - Free Report) by 33.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,830 shares of the basic materials company's stock after selling 39,520 shares during the quarter. Cetera Investment Advisers' holdings in International Paper were worth $4,243,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IP. Pacer Advisors Inc. increased its holdings in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after buying an additional 7,424 shares during the period. Wedmont Private Capital acquired a new position in International Paper during the 4th quarter worth about $376,000. Allspring Global Investments Holdings LLC lifted its position in International Paper by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after buying an additional 15,904 shares in the last quarter. Merit Financial Group LLC acquired a new position in International Paper during the 4th quarter worth about $372,000. Finally, Strategic Financial Concepts LLC acquired a new position in International Paper during the 4th quarter worth about $788,000. Institutional investors own 81.95% of the company's stock.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was 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 directly owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is currently owned by company insiders.

International Paper Trading Up 1.1%

NYSE:IP traded up $0.57 on Friday, hitting $50.14. 5,154,511 shares of the stock were exchanged, compared to its average volume of 8,089,090. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market capitalization of $26.47 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 0.39 and a beta of 1.03. The company's 50-day moving average price is $48.72 and its 200 day moving average price is $53.43. International Paper has a 52 week low of $40.39 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business's revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. 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 declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid 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 3.69%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com 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 reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Truist Financial reduced their price target on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company reissued an "underweight" rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, International Paper has an average rating of "Hold" and an average target price of $54.21.

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.