LPL Financial LLC Sells 49,906 Shares of International Paper (NYSE:IP)

LPL Financial LLC lessened its position in shares of International Paper (NYSE:IP - Free Report) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 701,383 shares of the basic materials company's stock after selling 49,906 shares during the quarter. LPL Financial LLC owned about 0.20% of International Paper worth $37,748,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company's stock valued at $407,463,000 after acquiring an additional 99,720 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the period. Artemis Investment Management LLP boosted its position in shares of International Paper by 147.2% in the 4th 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of International Paper by 2.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company's stock worth $97,686,000 after purchasing an additional 42,151 shares during the period. Finally, Hill City Capital LP increased its holdings in International Paper by 287.5% in the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company's stock valued at $75,718,000 after purchasing an additional 1,150,000 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Finally, Truist Financial reissued a "buy" rating and issued a $64.00 price target (down previously 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.32.

International Paper Stock Up 1.1 %

Shares of NYSE:IP traded up $0.59 during midday trading on Wednesday, reaching $54.24. The company had a trading volume of 750,303 shares, compared to its average volume of 9,452,412. The stock has a market cap of $28.54 billion, a PE ratio of 34.55, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The business's 50 day moving average price is $54.69 and its 200 day moving average price is $53.83.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results 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%. Research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's payout ratio is presently 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.