Leavell Investment Management Inc. Raises Holdings in International Paper (NYSE:IP)

Leavell Investment Management Inc. grew its position in International Paper (NYSE:IP) by 11.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,425 shares of the basic materials company’s stock after purchasing an additional 1,200 shares during the quarter. Leavell Investment Management Inc.’s holdings in International Paper were worth $615,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Up 1.8 %

Shares of IP stock opened at $55.59 on Friday. The stock’s 50-day simple moving average is $55.48 and its 200-day simple moving average is $52.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm has a market capitalization of $19.31 billion, a PE ratio of 35.41 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Equities analysts expect that International Paper will post 2.89 earnings per share for the current year.

International Paper Dividend Announcement

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