Brandywine Global Investment Management LLC Trims Stock Position in International Paper (NYSE:IP)

Brandywine Global Investment Management LLC lessened its stake in International Paper (NYSE:IP - Free Report) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,816 shares of the basic materials company's stock after selling 13,601 shares during the period. Brandywine Global Investment Management LLC's holdings in International Paper were worth $9,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in IP. Pacer Advisors Inc. increased its holdings in shares of International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after acquiring an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new position in International Paper in the third quarter valued at $24,327,000. Wedmont Private Capital acquired a new position in International Paper in the fourth quarter valued at $376,000. Everence Capital Management Inc. acquired a new stake in shares of International Paper during the fourth quarter worth about $828,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after buying an additional 15,904 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on IP. StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target for the company. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Finally, Truist Financial restated a "buy" rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.32.

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International Paper Price Performance

Shares of IP traded down $1.29 during trading hours on Friday, reaching $47.89. The company had a trading volume of 8,125,261 shares, compared to its average volume of 9,480,998. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 30.50, 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. The firm has a 50 day simple moving average of $54.18 and a 200-day simple moving average of $53.82. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last issued 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 net margin of 2.99% and a return on equity of 4.75%. Research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced 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. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. International Paper's payout ratio is 117.83%.

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.