180 Wealth Advisors LLC Has $257,000 Holdings in International Paper (NYSE:IP)

Posted by on Jun 21st, 2023

180 Wealth Advisors LLC increased its stake in International Paper (NYSE:IP – Get Rating) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,131 shares of the basic materials company’s stock after buying an additional 344 shares during the quarter. 180 Wealth Advisors LLC’s holdings in International Paper were worth $257,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of International Paper by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock valued at $2,391,000 after buying an additional 3,209 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in International Paper by 4.5% during the 1st quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 369 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Cibc World Market Inc. acquired a new stake in International Paper during the 1st quarter valued at $206,000. Finally, Vontobel Holding Ltd. lifted its holdings in International Paper by 1.6% during the 1st quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock valued at $1,947,000 after purchasing an additional 676 shares during the last quarter. Institutional investors and hedge funds own 85.80% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Allison B. Magness sold 3,300 shares of International Paper stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $31.75, for a total value of $104,775.00. Following the transaction, the senior vice president now owns 21,055 shares in the company, valued at $668,496.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IP shares. Deutsche Bank Aktiengesellschaft cut their price target on International Paper from $31.00 to $27.00 in a report on Monday, May 1st. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of International Paper in a research report on Friday, April 28th. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Royal Bank of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $40.00 to $39.00 in a research report on Friday, April 28th. They noted that the move was a valuation call. Finally, 58.com reiterated a “maintains” rating on shares of International Paper in a research report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.55.

International Paper Stock Down 1.4 %

Shares of NYSE IP opened at $31.52 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55. International Paper has a 52 week low of $29.00 and a 52 week high of $45.17. The stock has a market capitalization of $10.94 billion, a P/E ratio of 8.73 and a beta of 1.04. The stock’s fifty day moving average is $32.57 and its 200 day moving average is $35.20.

International Paper (NYSE:IP – Get Rating) last released its earnings results on Thursday, April 27th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. International Paper had a return on equity of 14.87% and a net margin of 6.28%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts forecast that International Paper will post 2.35 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 26th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date was Thursday, May 25th. International Paper’s dividend payout ratio is presently 51.25%.

About International Paper

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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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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