Edgestream Partners L.P. Sells 106,521 Shares of International Paper (NYSE:IP)

Edgestream Partners L.P. lessened its holdings in International Paper (NYSE:IP) by 88.0% in the fourth quarter, Holdings Channel reports. The firm owned 14,543 shares of the basic materials company’s stock after selling 106,521 shares during the period. Edgestream Partners L.P.’s holdings in International Paper were worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in International Paper during the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper during the 4th quarter worth $26,000. Brooklyn Investment Group bought a new stake in International Paper in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the 3rd quarter valued at about $28,000. Finally, Ashton Thomas Securities LLC bought a new position in International Paper during the third quarter worth about $28,000. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IP has been the topic of several research reports. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America began coverage on shares of 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 price target for the company. in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Price Performance

NYSE:IP opened at $49.36 on Wednesday. The firm has a market capitalization of $25.97 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a fifty day moving average of $55.33 and a 200 day moving average of $53.32. International Paper has a 52-week low of $33.16 and a 52-week 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 return on equity of 4.75% and a net margin of 2.99%. On average, research analysts expect that International Paper will post 2.77 EPS 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. Stockholders 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 dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is currently 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.