Bowen Hanes & Co. Inc. Decreases Holdings in International Paper (NYSE:IP)

Bowen Hanes & Co. Inc. cut its holdings in shares of International Paper (NYSE:IP) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,370 shares of the basic materials company’s stock after selling 2,260 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in International Paper were worth $1,042,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in International Paper in the 3rd quarter worth about $24,327,000. Aptus Capital Advisors LLC increased its holdings in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 785 shares during the last quarter. Wedmont Private Capital purchased a new stake in International Paper in the 4th quarter worth about $376,000. Finally, Curi RMB Capital LLC purchased a new stake in International Paper in the 3rd quarter worth about $4,870,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $50.60 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The stock has a market capitalization of $26.62 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock’s 50 day moving average price is $55.26 and its 200-day moving average price is $53.30.

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

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has a consensus 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.