109,782 Shares in International Paper (NYSE:IP) Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in International Paper (NYSE:IP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 109,782 shares of the basic materials company’s stock, valued at approximately $5,908,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of International Paper by 28.7% in the fourth 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 in the last quarter. Lord Abbett & CO. LLC bought a new stake in International Paper during the 3rd quarter worth about $24,327,000. Aptus Capital Advisors LLC increased its position in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital bought a new position in shares of International Paper in the fourth quarter worth about $376,000. Finally, Curi RMB Capital LLC acquired a new position in shares of International Paper during the third quarter worth approximately $4,870,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IP shares. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. One analyst has 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 presently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Stock Performance

IP stock opened at $54.66 on Thursday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a market cap of $18.99 billion, a P/E ratio of 34.82 and a beta of 1.02. The business’s fifty day moving average is $55.55 and its 200-day moving average is $52.15.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Equities research analysts forecast that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is 117.84%.

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.