Envestnet Asset Management Inc. Sells 52,985 Shares of International Paper (NYSE:IP)

Envestnet Asset Management Inc. lessened its stake in shares of International Paper (NYSE:IP - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 211,197 shares of the basic materials company's stock after selling 52,985 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of International Paper worth $11,367,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IP. Resona Asset Management Co. Ltd. bought a new position in International Paper during the fourth quarter worth $5,358,000. Unison Advisors LLC increased its position in International Paper by 1.0% in the 4th quarter. Unison Advisors LLC now owns 57,919 shares of the basic materials company's stock valued at $3,117,000 after buying an additional 550 shares in the last quarter. Yoffe Investment Management LLC acquired a new position in International Paper during the 4th quarter worth approximately $378,000. World Investment Advisors boosted its holdings in International Paper by 25.9% in the fourth quarter. World Investment Advisors now owns 11,572 shares of the basic materials company's stock worth $623,000 after acquiring an additional 2,381 shares in the last quarter. Finally, OneAscent Financial Services LLC increased its holdings in shares of International Paper by 17.9% during the fourth quarter. OneAscent Financial Services LLC now owns 7,041 shares of the basic materials company's stock valued at $379,000 after acquiring an additional 1,068 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IP has been the subject of several research reports. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating for the company. Wells Fargo & Company decreased their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Truist Financial lowered their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.77.

International Paper Stock Performance

International Paper stock traded up $1.27 during mid-day trading on Wednesday, reaching $47.75. 738,377 shares of the company's stock were exchanged, compared to its average volume of 8,662,604. The firm has a market capitalization of $25.21 billion, a PE ratio of 30.41, a P/E/G ratio of 0.39 and a beta of 0.99. 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 business's fifty day simple moving average is $51.53 and its 200 day simple moving average is $53.57. International Paper has a one year low of $33.16 and a one year high of $60.36.

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 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, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.87%. 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.