Barclays PLC Sells 138,510 Shares of International Paper (NYSE:IP)

Barclays PLC reduced its position in International Paper (NYSE:IP - Free Report) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778,089 shares of the basic materials company's stock after selling 138,510 shares during the period. Barclays PLC owned approximately 0.22% of International Paper worth $41,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in International Paper during the fourth quarter valued at about $26,000. Picton Mahoney Asset Management grew its holdings in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares during the period. Versant Capital Management Inc raised its position in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after acquiring an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Finally, Truist Financial lowered their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, International Paper has a consensus rating of "Moderate Buy" and a consensus target price of $54.77.

International Paper Stock Up 2.4 %

Shares of IP traded up $1.12 during midday trading on Wednesday, hitting $47.60. The stock had a trading volume of 993,134 shares, compared to its average volume of 8,663,773. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The company has a 50 day simple moving average of $51.53 and a two-hundred day simple moving average of $53.57. International Paper has a twelve month low of $33.16 and a twelve month 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) 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 anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.89%. International Paper's payout ratio is currently 117.83%.

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.