Orca Wealth Management LLC Makes New Investment in International Paper (NYSE:IP)

Orca Wealth Management LLC bought a new stake in shares of International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel.com reports. The firm bought 16,252 shares of the basic materials company’s stock, valued at approximately $875,000.

A number of other hedge funds have also made changes to their positions in IP. Brooklyn Investment Group bought a new position in International Paper during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper during the third quarter worth about $28,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the third quarter valued at about $28,000. Versant Capital Management Inc grew its position in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares in the last quarter. Finally, City State Bank increased its holdings in shares of International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on IP. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Truist Financial lifted their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.99.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,800 shares of company stock valued at $100,848. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of IP opened at $59.10 on Wednesday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company’s fifty day moving average is $56.17 and its 200-day moving average is $51.35. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 50.51 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.13%. International Paper’s payout ratio is currently 158.12%.

International Paper Company 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.