National Pension Service Decreases Stock Position in International Paper (NYSE:IP)

National Pension Service cut its holdings in International Paper (NYSE:IP) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 504,483 shares of the basic materials company’s stock after selling 26,277 shares during the quarter. National Pension Service owned about 0.15% of International Paper worth $27,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its holdings in shares of International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of International Paper in the third quarter valued at about $24,327,000. Aptus Capital Advisors LLC increased its holdings in shares of International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 785 shares during the period. Wedmont Private Capital acquired a new position in shares of International Paper in the fourth quarter valued at about $376,000. Finally, Curi RMB Capital LLC acquired a new stake in International Paper during the third quarter worth about $4,870,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

International Paper Stock Up 0.2 %

Shares of IP opened at $56.34 on Friday. 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 has a 12 month low of $33.16 and a 12 month high of $60.36. The stock’s 50 day moving average is $55.71 and its two-hundred day moving average is $53.07. The firm has a market cap of $29.64 billion, a P/E ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02.

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

International Paper Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.28%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

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.