Axxcess Wealth Management LLC Sells 1,018 Shares of International Paper (NYSE:IP)

Axxcess Wealth Management LLC trimmed its holdings in shares of International Paper (NYSE:IP) by 8.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,768 shares of the basic materials company’s stock after selling 1,018 shares during the period. Axxcess Wealth Management LLC’s holdings in International Paper were worth $580,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Sierra Ocean LLC acquired a new stake in shares of International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in International Paper in the fourth quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in International Paper in the third quarter valued at approximately $25,000. Picton Mahoney Asset Management increased its holdings in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of International Paper during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IP. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday. They issued an “overweight” rating and a $59.00 price target for the company. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average price target of $55.32.

International Paper Price Performance

Shares of NYSE IP opened at $51.29 on Friday. The company has a market capitalization of $26.99 billion, a PE ratio of 32.67, a PEG ratio of 0.39 and a beta of 1.02. 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 stock’s 50 day moving average price is $54.96 and its 200-day moving average price is $53.42. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, equities analysts anticipate 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 was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is 117.83%.

International Paper 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.