Allstate Corp Invests $524,000 in International Paper (NYSE:IP)

Allstate Corp bought a new position in shares of International Paper (NYSE:IP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,742 shares of the basic materials company's stock, valued at approximately $524,000.

A number of other large investors have also modified their holdings of the business. SPC Financial Inc. increased its holdings in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after acquiring an additional 204 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after acquiring an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock worth $86,000 after acquiring an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

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International Paper Stock Down 2.6 %

Shares of IP traded down $1.29 during mid-day trading on Friday, hitting $47.89. 8,125,261 shares of the company's stock were exchanged, compared to its average volume of 9,480,998. The stock's 50-day moving average is $54.18 and its 200-day moving average is $53.82. 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 fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 0.39 and a beta of 0.99.

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 analysts' consensus estimates 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, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.86%. International Paper's dividend payout ratio (DPR) is 117.83%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price for the company. JPMorgan Chase & Co. began coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Finally, Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued 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 a consensus price target of $55.32.

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.