Richwood Investment Advisors LLC Sells 400 Shares of International Paper (NYSE:IP)

Richwood Investment Advisors LLC trimmed its position in International Paper (NYSE:IP) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,087 shares of the basic materials company’s stock after selling 400 shares during the quarter. Richwood Investment Advisors LLC’s holdings in International Paper were worth $381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its holdings in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the period. Point72 Asset Management L.P. raised its holdings in International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after acquiring an additional 2,484,386 shares during the period. Artemis Investment Management LLP raised its holdings in International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after acquiring an additional 1,202,632 shares during the period. Hill City Capital LP raised its holdings in International Paper by 287.5% in the 3rd quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after acquiring an additional 1,150,000 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

NYSE IP opened at $51.29 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. The firm has a market capitalization of $26.99 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02. The firm’s 50 day simple moving average is $54.96 and its 200 day simple moving average is $53.46. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. As a group, research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.61%. International Paper’s dividend payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IP shares. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday. They issued an “overweight” rating and a $59.00 price target on the stock. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Truist Financial restated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

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.