Aigen Investment Management LP cut its position in shares of International Paper (NYSE:IP - Free Report) by 64.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,956 shares of the basic materials company's stock after selling 7,282 shares during the quarter. Aigen Investment Management LP's holdings in International Paper were worth $213,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of IP. Graypoint LLC bought a new stake in International Paper during the 3rd quarter worth about $205,000. Principal Financial Group Inc. lifted its stake in International Paper by 2.6% in the third quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company's stock valued at $20,412,000 after buying an additional 10,632 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in International Paper in the 3rd quarter worth $217,000. Assetmark Inc. raised its stake in shares of International Paper by 38.8% in the 3rd quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 331 shares during the period. Finally, Atria Investments Inc lifted its holdings in shares of International Paper by 58.7% in the third quarter. Atria Investments Inc now owns 20,192 shares of the basic materials company's stock valued at $986,000 after purchasing an additional 7,465 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. 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 reiterated a "buy" rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, Citigroup started 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.86.
Check Out Our Latest Stock Analysis on IP
International Paper Trading Down 0.7 %
Shares of IP traded down $0.33 during mid-day trading on Thursday, reaching $50.30. 5,709,807 shares of the company were exchanged, compared to its average volume of 10,261,306. The stock has a market capitalization of $26.46 billion, a PE ratio of 32.04, a PEG ratio of 0.39 and a beta of 1.02. The business has a 50 day simple moving average of $55.26 and a two-hundred day simple moving average of $53.30. 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.
International Paper (NYSE:IP - Get Free Report) last released its 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 net margin of 2.99% and a return on equity of 4.75%. On average, analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.
International Paper Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, February 24th. International Paper's dividend payout ratio (DPR) is presently 117.83%.
International Paper Company Profile
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Free Report)
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.
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