Private Trust Co. NA Reduces Holdings in International Paper (NYSE:IP)

Private Trust Co. NA lowered its position in International Paper (NYSE:IP) by 21.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,405 shares of the basic materials company’s stock after selling 1,222 shares during the quarter. Private Trust Co. NA’s holdings in International Paper were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after purchasing an additional 1,202,632 shares during the last quarter. Finally, Hill City Capital LP grew its stake in International Paper by 287.5% in the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock worth $75,718,000 after purchasing an additional 1,150,000 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of IP opened at $55.28 on Tuesday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a fifty day moving average price of $55.73 and a 200 day moving average price of $53.18. The company has a market cap of $29.08 billion, a P/E ratio of 35.21, a PEG ratio of 0.39 and a beta of 1.02.

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 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 forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.35%. International Paper’s payout ratio is currently 117.83%.

Analysts Set New Price Targets

Several brokerages have issued reports on IP. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. 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. Bank of America began coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, Truist Financial reiterated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

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.