Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in International Paper (NYSE:IP)

Envestnet Portfolio Solutions Inc. lessened its position in International Paper (NYSE:IP) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,554 shares of the basic materials company’s stock after selling 1,565 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in International Paper were worth $1,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of International Paper in the third quarter worth about $24,327,000. Wedmont Private Capital acquired a new position in International Paper during the fourth quarter worth about $376,000. Everence Capital Management Inc. purchased a new stake in International Paper during the 4th quarter valued at about $828,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of IP stock opened at $51.29 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm has a market cap of $26.99 billion, a P/E ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02. The firm’s 50 day moving average price is $54.96 and its 200-day moving average price is $53.46. International Paper has a one year low of $33.16 and a one year high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. As a group, equities research analysts predict 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 was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday. They issued an “overweight” rating and a $59.00 price target for the company. StockNews.com raised International Paper from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

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.