Guggenheim Capital LLC Has $8.41 Million Stock Position in International Paper (NYSE:IP)

Guggenheim Capital LLC lessened its holdings in shares of International Paper (NYSE:IP - Free Report) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,324 shares of the basic materials company's stock after selling 51,804 shares during the period. Guggenheim Capital LLC's holdings in International Paper were worth $8,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sierra Ocean LLC bought a new stake in International Paper in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper in the 4th quarter valued at about $26,000. Picton Mahoney Asset Management raised 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 in the last quarter. Versant Capital Management Inc boosted its position in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after purchasing an additional 295 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on IP shares. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Wells Fargo & Company dropped their price target on International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. Finally, Truist Financial reissued a "buy" rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper currently has a consensus rating of "Moderate Buy" and an average price target of $55.32.

International Paper Price Performance

Shares of IP traded up $1.26 during trading hours on Tuesday, hitting $46.32. 570,386 shares of the company were exchanged, compared to its average volume of 8,741,111. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The firm's fifty day moving average is $51.71 and its 200 day moving average is $53.62. 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 company has a market cap of $24.45 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

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