Holderness Investments Co. Sells 351 Shares of International Paper (NYSE:IP)

Holderness Investments Co. cut its stake in International Paper (NYSE:IP) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,480 shares of the basic materials company’s stock after selling 351 shares during the period. Holderness Investments Co.’s holdings in International Paper were worth $1,156,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sierra Ocean LLC bought a new stake in International Paper in the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper during the 4th quarter worth about $26,000. Brooklyn Investment Group bought a new position in shares of International Paper during the 3rd quarter worth about $25,000. Picton Mahoney Asset Management lifted its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of International Paper during the 3rd quarter worth about $28,000. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 0.8 %

Shares of International Paper stock opened at $52.18 on Friday. The stock has a market capitalization of $27.45 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $55.02 and a 200 day simple moving average of $53.40. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

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

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is presently 117.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IP shares. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday. They set an “overweight” rating and a $59.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average target price of $55.32.

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.