International Paper (NYSE:IP) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in International Paper (NYSE:IP - Free Report) by 39.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,175 shares of the basic materials company's stock after selling 34,667 shares during the quarter. Manning & Napier Advisors LLC's holdings in International Paper were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new position in shares of International Paper during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new position in International Paper during the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in International Paper during the 3rd quarter valued at approximately $28,000. Versant Capital Management Inc raised its holdings in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after purchasing an additional 448 shares in the last quarter. Finally, City State Bank boosted its stake in International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company's stock worth $36,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Stock Down 1.2 %

Shares of NYSE IP traded down $0.70 during mid-day trading on Thursday, reaching $57.28. 7,722,865 shares of the company were exchanged, compared to its average volume of 5,437,703. The firm has a 50-day moving average of $56.17 and a 200 day moving average of $51.51. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market cap of $19.90 billion, a price-to-earnings ratio of 48.96 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last released 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 6.49% and a net margin of 2.25%. On average, research analysts expect that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.23%. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IP. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Truist Financial boosted their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Royal Bank of Canada upped their price target on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $51.99.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now owns 37,145 shares of the company's stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by insiders.

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.