180 Wealth Advisors LLC Sells 723 Shares of International Paper (NYSE:IP)

180 Wealth Advisors LLC reduced its position in International Paper (NYSE:IP) by 9.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,691 shares of the basic materials company’s stock after selling 723 shares during the quarter. 180 Wealth Advisors LLC’s holdings in International Paper were worth $357,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SPC Financial Inc. lifted its position in International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. Inspire Advisors LLC lifted its position in International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the last quarter. Picton Mahoney Asset Management lifted its position in 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 purchasing an additional 215 shares during the last quarter. Finally, Summit Financial LLC lifted its position in International Paper by 4.3% during the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 224 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Down 1.3%

Shares of IP opened at $47.20 on Tuesday. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The firm has a 50 day moving average price of $47.83 and a 200-day moving average price of $52.73.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Friday, May 23rd. International Paper’s payout ratio is 158.12%.

Analysts Set New Price Targets

Several brokerages have issued reports on IP. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price for the company. Finally, Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and a consensus price target of $53.86.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares of the company’s stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by insiders.

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.