Allianz Asset Management GmbH Increases Stock Holdings in International Paper (NYSE:IP)

Allianz Asset Management GmbH lifted its stake in International Paper (NYSE:IP) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 844,967 shares of the basic materials company’s stock after purchasing an additional 37,951 shares during the quarter. Allianz Asset Management GmbH owned about 0.24% of International Paper worth $45,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in International Paper during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in International Paper during the 4th quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in International Paper during the 3rd quarter valued at $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in International Paper during the 3rd quarter valued at $28,000. Hedge funds and other 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 business’s stock in a transaction 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 completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

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

International Paper Price Performance

Shares of IP stock opened at $55.62 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. The stock has a fifty day simple moving average of $55.59 and a two-hundred day simple moving average of $52.63. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. On average, analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is 117.84%.

About International Paper

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.