Arkadios Wealth Advisors Boosts Stock Position in International Paper Company (NYSE:IP)

Arkadios Wealth Advisors raised its position in shares of International Paper Company (NYSE:IP) by 1.2% during the 1st quarter, Holdings Channel reports. The firm owned 28,715 shares of the basic materials company’s stock after buying an additional 349 shares during the quarter. Arkadios Wealth Advisors’ holdings in International Paper were worth $1,532,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Eastern Bank grew its stake in International Paper by 76.5% during the 1st quarter. Eastern Bank now owns 1,456 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 631 shares during the last quarter. Vestcor Inc lifted its holdings in shares of International Paper by 36.1% in the 1st quarter. Vestcor Inc now owns 8,896 shares of the basic materials company’s stock valued at $475,000 after buying an additional 2,359 shares during the period. XTX Topco Ltd acquired a new position in shares of International Paper in the 1st quarter valued at about $295,000. Banque Cantonale Vaudoise acquired a new position in shares of International Paper in the 1st quarter valued at about $3,048,000. Finally, Federated Hermes Inc. lifted its holdings in shares of International Paper by 1,369.6% in the 1st quarter. Federated Hermes Inc. now owns 16,783 shares of the basic materials company’s stock valued at $895,000 after buying an additional 15,641 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IP shares. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. Wells Fargo & Company reissued an “underweight” rating and issued a $43.00 price objective (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, UBS Group started coverage on International Paper in a report on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.65.

International Paper Stock Performance

NYSE IP opened at $46.41 on Friday. The stock has a market capitalization of $24.50 billion, a price-to-earnings ratio of -464.10, a PEG ratio of 0.43 and a beta of 1.04. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $49.22 and a 200 day moving average of $50.82.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. International Paper’s dividend payout ratio is presently 158.12%.

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.