Orion Portfolio Solutions LLC Sells 1,696 Shares of International Paper (NYSE:IP)

Orion Portfolio Solutions LLC lowered its position in International Paper (NYSE:IP) by 7.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,748 shares of the basic materials company’s stock after selling 1,696 shares during the period. Orion Portfolio Solutions LLC’s holdings in International Paper were worth $1,117,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in International Paper in the fourth quarter valued at approximately $109,201,000. Artemis Investment Management LLP lifted its position in International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after acquiring an additional 1,202,632 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper in the 3rd quarter worth $24,327,000. Two Sigma Advisers LP bought a new position in International Paper during the 3rd quarter worth about $24,151,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of International Paper in the 4th quarter valued at about $21,307,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on IP. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price for the company. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

Shares of NYSE IP opened at $47.89 on Friday. 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 business’s 50 day moving average price is $54.18 and its two-hundred day moving average price is $53.79. The company has a market cap of $25.20 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last posted 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 return on equity of 4.75% and a net margin of 2.99%. On average, analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

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.