Blue Trust Inc. Has $349,000 Stock Holdings in International Paper (NYSE:IP)

Blue Trust Inc. lifted its position in shares of International Paper (NYSE:IP) by 18.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,488 shares of the basic materials company’s stock after buying an additional 1,017 shares during the quarter. Blue Trust Inc.’s holdings in International Paper were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IP. Brooklyn Investment Group bought a new position in International Paper during the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the third quarter worth $28,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper in the third quarter worth $28,000. Versant Capital Management Inc raised its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares in the last quarter. Finally, City State Bank lifted its position in International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 350 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 2.5 %

Shares of IP stock opened at $55.65 on Friday. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock’s fifty day simple moving average is $56.06 and its 200 day simple moving average is $51.62. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03.

International Paper (NYSE:IP) last released 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 return on equity of 6.49% and a net margin of 2.25%. As a group, sell-side analysts predict that International Paper will post 1.07 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IP shares. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.