Foundations Investment Advisors LLC Trims Position in International Paper (NYSE:IP)

Foundations Investment Advisors LLC cut its position in International Paper (NYSE:IPFree Report) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,315 shares of the basic materials company’s stock after selling 1,152 shares during the period. Foundations Investment Advisors LLC’s holdings in International Paper were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC bought a new position in shares of International Paper during the third quarter worth $25,000. CVA Family Office LLC bought a new position in shares of International Paper during the fourth quarter worth $27,000. Venturi Wealth Management LLC boosted its position in shares of International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 753 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in International Paper during the fourth quarter valued at $36,000. Finally, First Command Advisory Services Inc. bought a new position in International Paper during the third quarter valued at $39,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Up 0.3 %

Shares of International Paper stock opened at $40.64 on Friday. The firm’s 50 day moving average price is $37.51 and its 200-day moving average price is $36.23. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $29.00 and a 52-week high of $41.30. The company has a market cap of $14.12 billion, a P/E ratio of 82.94 and a beta of 1.01.

International Paper (NYSE:IPGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts predict that International Paper will post 1.85 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Wall Street Analysts Forecast Growth

Several research firms have commented on IP. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Wells Fargo & Company lowered their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, International Paper currently has an average rating of “Hold” and an average target price of $38.57.

Get Our Latest Report on IP

Insider Buying and Selling

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 10,000 shares of company stock worth $355,348 in the last three months. Corporate insiders own 0.55% of the company’s stock.

International Paper Company Profile

(Free Report)

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.

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

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