Cooper Financial Group Raises Stock Position in International Paper (NYSE:IP)

Posted by Defense World Staff on Mar 23rd, 2023

Cooper Financial Group grew its holdings in shares of International Paper (NYSE:IP – Get Rating) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,261 shares of the basic materials company’s stock after purchasing an additional 664 shares during the period. Cooper Financial Group’s holdings in International Paper were worth $286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Disciplined Equity Management Inc. purchased a new position in International Paper in the 4th quarter valued at approximately $157,000. Norwood Financial Corp increased its holdings in International Paper by 79.6% during the 4th quarter. Norwood Financial Corp now owns 2,550 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 1,130 shares during the period. Allworth Financial LP increased its holdings in International Paper by 7.8% during the 4th quarter. Allworth Financial LP now owns 5,470 shares of the basic materials company’s stock worth $189,000 after purchasing an additional 394 shares during the period. Mutual Advisors LLC increased its holdings in International Paper by 49.0% during the 4th quarter. Mutual Advisors LLC now owns 15,087 shares of the basic materials company’s stock worth $522,000 after purchasing an additional 4,961 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in International Paper by 172.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 206,210 shares of the basic materials company’s stock worth $7,141,000 after purchasing an additional 130,399 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their price target on International Paper from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. StockNews.com started coverage on shares of International Paper in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Citigroup lifted their price target on shares of International Paper from $36.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Argus increased their target price on International Paper from $43.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Finally, UBS Group raised International Paper from a “sell” rating to a “neutral” rating and increased their target price for the company from $31.00 to $43.00 in a report on Friday, February 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.82.

Insider Activity

In other news, SVP Timothy S. Nicholls sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $38.95, for a total value of $194,750.00. Following the completion of the sale, the senior vice president now directly owns 129,261 shares of the company’s stock, valued at $5,034,715.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other International Paper news, SVP Timothy S. Nicholls sold 5,000 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $38.95, for a total value of $194,750.00. Following the transaction, the senior vice president now directly owns 129,261 shares of the company’s stock, valued at approximately $5,034,715.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph R. Saab sold 1,705 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $35.35, for a total transaction of $60,271.75. Following the transaction, the senior vice president now owns 1,671 shares of the company’s stock, valued at approximately $59,069.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,567 shares of company stock valued at $3,261,447. Insiders own 0.42% of the company’s stock.

International Paper Stock Down 2.4 %

International Paper stock opened at $34.40 on Thursday. International Paper has a fifty-two week low of $30.69 and a fifty-two week high of $50.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.35. The company has a market capitalization of $12.04 billion, a P/E ratio of 8.45 and a beta of 1.07. The stock has a 50-day simple moving average of $37.44 and a 200-day simple moving average of $36.01.

International Paper (NYSE:IP – Get Rating) last announced its earnings results on Tuesday, January 31st. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.20 billion. International Paper had a net margin of 7.11% and a return on equity of 15.81%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Equities research analysts expect that International Paper will post 2.86 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.38%. International Paper’s payout ratio is 45.45%.

International Paper Company Profile

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.