US Bancorp DE Sells 3,567 Shares of International Paper (NYSE:IP)

US Bancorp DE cut its holdings in International Paper (NYSE:IP) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,570 shares of the basic materials company’s stock after selling 3,567 shares during the period. US Bancorp DE’s holdings in International Paper were worth $4,606,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake 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 worth $1,794,000 after purchasing an additional 7,424 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of International Paper in the third quarter worth about $24,327,000. Aptus Capital Advisors LLC increased its stake 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 worth $292,000 after purchasing an additional 785 shares during the period. Wedmont Private Capital bought a new position in shares of International Paper in the fourth quarter worth about $376,000. Finally, Curi RMB Capital LLC bought a new position in shares of International Paper in the third quarter worth about $4,870,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Up 2.7 %

NYSE IP opened at $52.71 on Thursday. 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 stock’s 50 day moving average is $55.60 and its two-hundred day moving average is $53.20. The company has a market capitalization of $27.73 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings data 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 net margin of 2.99% and a return on equity of 4.75%. Equities analysts forecast 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 will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is 117.83%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IP shares. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Citigroup initiated coverage on International Paper in a research report on Wednesday. They set a “buy” rating and a $60.00 target price on the stock. Truist Financial reissued a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.86.

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.