By otakuyassine3@gmail.com 
Principal Securities Inc. boosted its stake in International Paper (NYSE:IP – Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,285 shares of the basic materials company’s stock after purchasing an additional 1,546 shares during the period. Principal Securities Inc.’s holdings in International Paper were worth $500,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in International Paper in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in International Paper in the 3rd quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in International Paper in the 3rd quarter valued at approximately $28,000. Versant Capital Management Inc raised its stake in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank raised its stake in shares of International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.
International Paper Price Performance
Shares of NYSE IP opened at $55.62 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The firm has a fifty day simple moving average of $55.59 and a 200 day simple moving average of $52.55. The company has a market capitalization of $19.32 billion, a PE ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.
International Paper (NYSE:IP – Get Free Report) last announced its earnings results 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 return on equity of 4.75% and a net margin of 2.99%. On average, sell-side analysts forecast that International Paper will post 2.77 EPS for the current year.
International Paper Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.
Analysts Set New Price Targets
IP has been the subject of several analyst reports. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $51.88.
Check Out Our Latest Stock Analysis on International Paper
Insiders Place Their Bets
In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.
International Paper 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.
Further Reading
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