Investors Research Corp Reduces Holdings in International Paper (NYSE:IP)

Investors Research Corp cut its position in shares of International Paper (NYSE:IP) by 42.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,437 shares of the basic materials company’s stock after selling 24,746 shares during the quarter. Investors Research Corp’s holdings in International Paper were worth $1,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IP. Graypoint LLC purchased a new stake in shares of International Paper during the third quarter worth about $205,000. Principal Financial Group Inc. boosted its position in shares of International Paper by 2.6% in the third quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company’s stock worth $20,412,000 after acquiring an additional 10,632 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of International Paper in the third quarter worth approximately $217,000. Assetmark Inc. boosted its position in shares of International Paper by 38.8% in the third quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 331 shares during the last quarter. Finally, Atria Investments Inc boosted its position in shares of International Paper by 58.7% in the third quarter. Atria Investments Inc now owns 20,192 shares of the basic materials company’s stock worth $986,000 after acquiring an additional 7,465 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.86.

International Paper Price Performance

Shares of IP opened at $52.39 on Monday. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 33.37, a P/E/G 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 current ratio of 1.49 and a quick ratio of 1.08. The business’s 50-day moving average is $55.49 and its 200-day moving average is $53.30.

International Paper (NYSE:IP) last issued its earnings results 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%. Equities research analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.53%. International Paper’s payout ratio 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.