International Paper (NYSE:IP) Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in shares of International Paper (NYSE:IP) by 9.3% in the 4th quarter, HoldingsChannel reports. The firm owned 46,310 shares of the basic materials company’s stock after selling 4,762 shares during the period. KBC Group NV’s holdings in International Paper were worth $2,492,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its holdings in International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Performance

NYSE IP opened at $55.65 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $56.06 and its two-hundred day moving average is $51.62. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 47.56 and a beta of 1.03.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. Research analysts expect that International Paper will post 1.07 EPS for the current year.

International Paper Dividend Announcement

The firm 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. This represents a $1.85 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is 158.12%.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now owns 37,145 shares in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

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.