Arkadios Wealth Advisors Acquires 349 Shares of International Paper Company (NYSE:IP)

Arkadios Wealth Advisors increased its holdings in shares of International Paper Company (NYSE:IP) by 1.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 28,715 shares of the basic materials company’s stock after acquiring an additional 349 shares during the period. Arkadios Wealth Advisors’ holdings in International Paper were worth $1,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in International Paper during the 4th quarter valued at $37,000. Transce3nd LLC bought a new stake in International Paper during the 4th quarter valued at $38,000. Citizens National Bank Trust Department bought a new stake in International Paper during the 1st quarter valued at $37,000. Grove Bank & Trust raised its position in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 623 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in International Paper during the 1st quarter valued at $42,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Down 0.7%

Shares of IP stock opened at $46.41 on Friday. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The stock’s fifty day moving average price is $49.22 and its 200 day moving average price is $50.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The company has a market cap of $24.50 billion, a price-to-earnings ratio of -464.10, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 15th. International Paper’s payout ratio is 158.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IP shares. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Wells Fargo & Company reiterated an “underweight” rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, International Paper has a consensus rating of “Hold” and an average price target of $55.65.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

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.