Wells Fargo & Company MN Decreases Stake in International Paper (NYSE:IP)

Wells Fargo & Company MN decreased its position in International Paper (NYSE:IP - Free Report) by 15.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 773,251 shares of the basic materials company's stock after selling 146,388 shares during the period. Wells Fargo & Company MN owned about 0.22% of International Paper worth $41,616,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in International Paper in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter valued at $26,000. Picton Mahoney Asset Management boosted its stake in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. Versant Capital Management Inc increased its position in International Paper by 313.3% during the 4th 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, Venturi Wealth Management LLC lifted its holdings in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Down 0.7 %

IP stock traded down $0.32 during midday trading on Tuesday, reaching $47.26. 678,731 shares of the company's stock traded hands, compared to its average volume of 9,078,258. 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 fifty-two week low of $33.16 and a fifty-two week high of $60.36. The business has a 50-day moving average price of $52.63 and a two-hundred day moving average price of $53.70. The company has a market capitalization of $24.95 billion, a P/E ratio of 30.10, a PEG ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last announced 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%. Equities research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.91%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio (DPR) is presently 117.83%.

Analysts Set New Price Targets

IP has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective 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. Citigroup initiated coverage on International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Truist Financial reiterated a "buy" rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America began coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.32.

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.