Thrivent Financial for Lutherans Grows Stake in International Paper (NYSE:IP)

Thrivent Financial for Lutherans grew its holdings in shares of International Paper (NYSE:IP) by 446.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,806 shares of the basic materials company’s stock after purchasing an additional 63,564 shares during the period. Thrivent Financial for Lutherans’ holdings in International Paper were worth $4,203,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in International Paper by 4.0% in the 4th quarter. Signaturefd LLC now owns 6,277 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 243 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of International Paper by 306.1% in the fourth quarter. Cibc World Markets Corp now owns 187,444 shares of the basic materials company’s stock worth $10,088,000 after buying an additional 141,284 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of International Paper by 27.7% during the fourth quarter. Natixis Advisors LLC now owns 296,540 shares of the basic materials company’s stock worth $15,960,000 after buying an additional 64,398 shares during the period. Picton Mahoney Asset Management grew its holdings in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its position in shares of International Paper by 4.4% in the 4th quarter. HBK Sorce Advisory LLC now owns 7,258 shares of the basic materials company’s stock valued at $391,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of several research analyst reports. JPMorgan Chase & Co. began coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. 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. Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Stock Up 6.6 %

IP opened at $56.34 on Wednesday. The company has a fifty day moving average of $54.96 and a two-hundred day moving average of $53.61. The stock has a market capitalization of $29.64 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is presently 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.