Huntington National Bank Purchases 5,372 Shares of International Paper (NYSE:IP)

Huntington National Bank increased its stake in International Paper (NYSE:IP - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,932 shares of the basic materials company's stock after acquiring an additional 5,372 shares during the quarter. Huntington National Bank's holdings in International Paper were worth $9,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after purchasing an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in International Paper during the 3rd quarter worth about $24,327,000. Wedmont Private Capital acquired a new stake in International Paper during the 4th quarter worth about $376,000. Everence Capital Management Inc. purchased a new position in International Paper during the 4th quarter valued at about $828,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock valued at $46,686,000 after purchasing an additional 15,904 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Price Performance

Shares of NYSE:IP traded down $1.29 during trading on Friday, reaching $47.89. The stock had a trading volume of 8,125,261 shares, compared to its average volume of 9,480,998. The stock has a market capitalization of $25.20 billion, a PE ratio of 30.50, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The business's 50-day moving average price is $54.18 and its 200 day moving average price is $53.79.

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International Paper (NYSE:IP - Get Free Report) last announced its 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%. As a group, equities analysts predict 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 paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's payout ratio is presently 117.83%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. 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. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.