International Assets Investment Management LLC lowered its position in shares of International Paper (NYSE:IP – Free Report) by 97.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,589 shares of the basic materials company’s stock after selling 409,544 shares during the quarter. International Assets Investment Management LLC’s holdings in International Paper were worth $457,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of IP. FMR LLC lifted its holdings in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.
Wall Street Analyst Weigh In
IP has been the subject of a number of recent research reports. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial lifted their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.
International Paper Stock Performance
NYSE:IP opened at $54.14 on Friday. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 46.27 and a beta of 1.03. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a fifty day moving average price of $56.22 and a 200-day moving average price of $50.23.
International Paper (NYSE:IP – Get Free Report) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. As a group, equities analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.
International Paper Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, November 15th. International Paper’s dividend payout ratio is presently 158.12%.
Insiders Place Their Bets
In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the sale, the director now owns 38,945 shares of the company’s stock, valued at $1,872,475.60. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 2,400 shares of company stock valued at $129,696. 0.55% of the stock is currently owned by corporate insiders.
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.
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