Bank of Montreal Can Sells 248,405 Shares of International Paper (NYSE:IP)

Bank of Montreal Can reduced its stake in shares of International Paper (NYSE:IP - Free Report) by 44.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 305,690 shares of the basic materials company's stock after selling 248,405 shares during the period. Bank of Montreal Can owned approximately 0.09% of International Paper worth $16,452,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its stake in International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after acquiring an additional 8,720,575 shares in the last quarter. Norges Bank bought a new stake in shares of International Paper in the fourth quarter worth $109,201,000. Artemis Investment Management LLP boosted its holdings in International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock worth $108,706,000 after purchasing an additional 1,202,632 shares during the last quarter. Clearbridge Investments LLC grew its position in International Paper by 645.6% in the fourth quarter. Clearbridge Investments LLC now owns 577,453 shares of the basic materials company's stock valued at $31,079,000 after purchasing an additional 500,001 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in International Paper in the third quarter valued at $24,327,000. Institutional investors own 81.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on IP shares. Royal Bank of Canada restated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Wells Fargo & Company decreased their price target on International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Truist Financial reaffirmed a "buy" rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Finally, StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.32.

International Paper Stock Performance

Shares of IP traded up $0.02 during trading hours on Friday, hitting $46.32. The company had a trading volume of 3,511,121 shares, compared to its average volume of 8,946,266. The business has a fifty day moving average of $52.09 and a 200-day moving average of $53.59. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 0.39 and a beta of 0.99. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data 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%. Equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.99%. The ex-dividend date was Monday, February 24th. International Paper's payout ratio is 117.83%.

About International Paper

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.