Global Retirement Partners LLC Reduces Holdings in International Paper (NYSE:IP)

Global Retirement Partners LLC reduced its stake in International Paper (NYSE:IP) by 29.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,015 shares of the basic materials company’s stock after selling 2,061 shares during the period. Global Retirement Partners LLC’s holdings in International Paper were worth $270,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Brooklyn Investment Group purchased a new position in shares of International Paper in the third quarter worth $25,000. Sierra Ocean LLC bought a new stake in International Paper in the 4th quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper in the third quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper during the third quarter valued at about $28,000. Finally, Versant Capital Management Inc boosted its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. Institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on 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.

Analyst Upgrades and Downgrades

IP has been the topic of a number of research analyst reports. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.88.

International Paper Price Performance

IP opened at $55.33 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock has a fifty day simple moving average of $55.58 and a two-hundred day simple moving average of $52.81. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last issued its quarterly 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 4.75% and a net margin of 2.99%. Research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.34%. International Paper’s payout ratio is 117.84%.

International Paper Company 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.