Prossimo Advisors LLC Has $635,000 Stock Holdings in International Paper (NYSE:IP)

Prossimo Advisors LLC raised its holdings in International Paper (NYSE:IP) by 14.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,802 shares of the basic materials company’s stock after buying an additional 1,466 shares during the quarter. Prossimo Advisors LLC’s holdings in International Paper were worth $635,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its position in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after purchasing an additional 99,720 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after buying an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after buying an additional 537,825 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IP shares. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Trading Up 2.0 %

NYSE:IP opened at $57.26 on Wednesday. The firm’s 50 day moving average is $55.46 and its 200 day moving average is $52.41. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The stock has a market capitalization of $19.89 billion, a PE ratio of 36.47 and a beta of 1.02. 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 (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts expect that International Paper will post 2.89 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is currently 117.84%.

About International Paper

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.