Valeo Financial Advisors LLC Acquires 1,090 Shares of International Paper (NYSE:IP)

Posted by Defense World Staff on Jun 29th, 2023

Valeo Financial Advisors LLC grew its holdings in shares of International Paper (NYSE:IP – Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,455 shares of the basic materials company’s stock after buying an additional 1,090 shares during the quarter. Valeo Financial Advisors LLC’s holdings in International Paper were worth $629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IP. State Street Corp lifted its holdings in International Paper by 0.9% during the first quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock worth $1,124,403,000 after buying an additional 218,754 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of International Paper by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,909,773 shares of the basic materials company’s stock valued at $273,915,000 after acquiring an additional 642,960 shares during the period. Greenhaven Associates Inc. raised its stake in shares of International Paper by 4.7% during the 1st quarter. Greenhaven Associates Inc. now owns 6,365,425 shares of the basic materials company’s stock valued at $229,537,000 after buying an additional 283,600 shares during the last quarter. Morgan Stanley raised its stake in shares of International Paper by 7.6% during the 4th quarter. Morgan Stanley now owns 5,839,269 shares of the basic materials company’s stock valued at $202,214,000 after buying an additional 413,320 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of International Paper by 15.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,160,141 shares of the basic materials company’s stock valued at $191,991,000 after buying an additional 557,451 shares during the last quarter. Institutional investors own 85.80% of the company’s stock.

Insider Activity at International Paper

In other International Paper news, SVP Allison B. Magness sold 3,300 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $31.75, for a total value of $104,775.00. Following the completion of the transaction, the senior vice president now directly owns 21,055 shares of the company’s stock, valued at $668,496.25. The sale was disclosed in a filing with the SEC, which is available at this link. 0.51% of the stock is owned by insiders.

International Paper Stock Performance

NYSE IP opened at $31.37 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.55 and a quick ratio of 1.10. International Paper has a 1 year low of $29.00 and a 1 year high of $45.17. The company has a market capitalization of $10.89 billion, a PE ratio of 8.69 and a beta of 1.04. The company has a fifty day moving average of $31.94 and a two-hundred day moving average of $34.99.

International Paper (NYSE:IP – Free Report) last announced its earnings results on Thursday, April 27th. The basic materials company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. International Paper had a net margin of 6.28% and a return on equity of 14.87%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts expect that International Paper will post 2.35 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 26th were given a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $1.85 dividend on an annualized basis and a yield of 5.90%. International Paper’s payout ratio is currently 51.25%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 58.com restated a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. 51job reiterated a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Royal Bank of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and cut their target price for the company from $40.00 to $39.00 in a research report on Friday, April 28th. They noted that the move was a valuation call. StockNews.com raised International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of International Paper in a research report on Friday, April 28th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.55.

International Paper Company Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.