HBK Sorce Advisory LLC Buys 305 Shares of International Paper (NYSE:IP)

HBK Sorce Advisory LLC lifted its stake in International Paper (NYSE:IP) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 7,258 shares of the basic materials company’s stock after acquiring an additional 305 shares during the quarter. HBK Sorce Advisory LLC’s holdings in International Paper were worth $391,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group bought a new position in International Paper in the 3rd quarter worth approximately $25,000. Sierra Ocean LLC bought a new position in International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in International Paper in the 4th quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in International Paper in the 3rd quarter worth approximately $28,000. Finally, Legacy Investment Solutions LLC bought a new position in International Paper in the 3rd quarter worth approximately $28,000. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

International Paper stock opened at $51.44 on Friday. 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 firm has a market cap of $27.06 billion, a P/E ratio of 32.76, a P/E/G ratio of 0.39 and a beta of 1.02. The business’s fifty day moving average is $55.18 and its two-hundred day moving average is $53.30. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings data 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 return on equity of 4.75% and a net margin of 2.99%. Equities research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 3.60%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IP. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Truist Financial restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.86.

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.