By otakuyassine3@gmail.com 
Wellington Management Group LLP trimmed its holdings in International Paper (NYSE:IP – Free Report) by 21.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,654 shares of the basic materials company’s stock after selling 61,876 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of International Paper worth $12,306,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its holdings in International Paper by 1.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 78,922 shares of the basic materials company’s stock valued at $4,248,000 after acquiring an additional 1,148 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of International Paper by 645.6% in the fourth quarter. Clearbridge Investments LLC now owns 577,453 shares of the basic materials company’s stock worth $31,079,000 after purchasing an additional 500,001 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of International Paper by 588.7% in the fourth quarter. Schroder Investment Management Group now owns 301,538 shares of the basic materials company’s stock worth $16,178,000 after buying an additional 257,752 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in International Paper during the fourth quarter valued at approximately $65,000. Finally, Allstate Corp purchased a new position in International Paper during the 4th quarter valued at approximately $524,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on IP shares. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective for the company. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Finally, Wells Fargo & Company reduced their price objective on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.32.
Check Out Our Latest Stock Analysis on International Paper
International Paper Stock Performance
Shares of International Paper stock opened at $49.18 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $53.09 and its two-hundred day moving average is $53.71. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The company has a market capitalization of $25.96 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99.
International Paper (NYSE:IP – Get Free Report) 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%. As a group, analysts expect that International Paper will post 2.77 earnings per share for the current year.
International Paper Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.76%. International Paper’s dividend payout ratio (DPR) is currently 117.83%.
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.
Read More
Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper (NYSE:IP – Free Report).
Receive News & Ratings for International Paper Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for International Paper and related companies with MarketBeat.com’s FREE daily email newsletter.