By otakuyassine3@gmail.com 
Rhumbline Advisers cut its stake in International Paper (NYSE:IP – Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 602,773 shares of the basic materials company’s stock after selling 7,921 shares during the period. Rhumbline Advisers owned approximately 0.17% of International Paper worth $32,441,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its holdings in International Paper by 677.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 1,355 shares during the last quarter. Creative Planning raised its stake in shares of International Paper by 6.6% during the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock worth $3,562,000 after buying an additional 4,500 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of International Paper by 90.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 10,969 shares of the basic materials company’s stock worth $536,000 after buying an additional 5,207 shares in the last quarter. Bleakley Financial Group LLC grew its stake in International Paper by 15.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,402 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 731 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in International Paper by 20.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,355 shares of the basic materials company’s stock valued at $2,069,000 after acquiring an additional 7,201 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.
International Paper Stock Performance
NYSE IP opened at $57.26 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.89 billion, a PE ratio of 36.47 and a beta of 1.02. The business’s 50-day moving average price is $55.46 and its 200 day moving average price is $52.41. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.
International Paper (NYSE:IP – Get Free Report) last released its earnings results 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%. On average, research analysts predict 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 dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.23%. International Paper’s payout ratio is 117.84%.
Insider Buying and Selling
In related news, Director Kathryn D. Sullivan sold 600 shares of the 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. This represents a 1.59 % 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. Corporate insiders own 0.55% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on IP. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, 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 report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.
Check Out Our Latest Analysis on International Paper
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.
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