Leavell Investment Management Inc. Boosts Stake in International Paper (NYSE:IP)

Leavell Investment Management Inc. lifted its stake in International Paper (NYSE:IP) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,425 shares of the basic materials company’s stock after purchasing an additional 1,200 shares during the period. Leavell Investment Management Inc.’s holdings in International Paper were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IP. Savant Capital LLC increased its stake in International Paper by 6.5% in the 4th quarter. Savant Capital LLC now owns 37,129 shares of the basic materials company’s stock worth $1,998,000 after buying an additional 2,282 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after buying an additional 212 shares in the last quarter. Advisors Preferred LLC purchased a new stake in International Paper in the 4th quarter worth $1,432,000. Kingsview Wealth Management LLC increased its stake in International Paper by 32.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the basic materials company’s stock worth $337,000 after buying an additional 1,537 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its stake in International Paper by 23.1% in the 4th quarter. Apollon Wealth Management LLC now owns 11,873 shares of the basic materials company’s stock worth $639,000 after buying an additional 2,230 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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. Bank of America assumed coverage on shares of International Paper in a report on Thursday. They set a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Up 1.8 %

Shares of NYSE:IP opened at $55.59 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a 50-day moving average price of $55.48 and a 200 day moving average price of $52.17. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 35.41 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts predict that International Paper will post 2.89 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is currently 117.84%.

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.