Symphony Financial Ltd. Co. Has $1.79 Million Position in International Paper (NYSE:IP)

Symphony Financial Ltd. Co. boosted its position in International Paper (NYSE:IP) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 30,919 shares of the basic materials company’s stock after purchasing an additional 1,709 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in International Paper were worth $1,794,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of International Paper in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in International Paper in the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in International Paper in the third quarter valued at $28,000. Versant Capital Management Inc increased its stake in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the last quarter. Finally, City State Bank lifted its position in International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Friday. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. Finally, Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

International Paper Trading Down 2.5 %

IP stock opened at $55.65 on Friday. International Paper has a one year low of $32.70 and a one year high of $60.36. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of 47.56 and a beta of 1.03. The company has a fifty day moving average price of $56.06 and a two-hundred day moving average price of $51.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. Equities analysts anticipate that International Paper will post 1.07 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper’s 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.