Cambridge Investment Research Advisors Inc. Acquires 1,680 Shares of International Paper Company (NYSE:IP)

Cambridge Investment Research Advisors Inc. grew its position in International Paper Company (NYSE:IP) by 3.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 49,320 shares of the basic materials company’s stock after purchasing an additional 1,680 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in International Paper were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in International Paper by 18.0% in the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company’s stock valued at $946,000 after acquiring an additional 2,685 shares during the last quarter. Korea Investment CORP boosted its position in International Paper by 220.6% in the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company’s stock worth $16,720,000 after purchasing an additional 213,783 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of International Paper in the fourth quarter valued at approximately $21,307,000. Assenagon Asset Management S.A. grew its holdings in International Paper by 37.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company’s stock valued at $1,194,000 after buying an additional 6,077 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its position in shares of International Paper by 88.6% during the 4th quarter. Dark Forest Capital Management LP now owns 11,310 shares of the basic materials company’s stock valued at $609,000 after acquiring an additional 5,312 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IP shares. UBS Group began coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $40.00 price objective (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Finally, Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.54.

Insiders Place Their Bets

In other 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 directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $46.87 on Tuesday. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. International Paper Company has a 1-year low of $42.26 and a 1-year high of $60.36. The firm’s fifty day moving average price is $47.08 and its 200 day moving average price is $51.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the previous year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, sell-side analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

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.