Allspring Global Investments Holdings LLC Buys 15,904 Shares of International Paper (NYSE:IP)

Allspring Global Investments Holdings LLC grew its holdings in shares of International Paper (NYSE:IP - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 878,221 shares of the basic materials company's stock after acquiring an additional 15,904 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of International Paper worth $46,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IP. Pacer Advisors Inc. grew its stake in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after buying an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in International Paper in the third quarter worth $24,327,000. Aptus Capital Advisors LLC grew its position in International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock worth $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital bought a new position in International Paper in the fourth quarter valued at $376,000. Finally, Curi RMB Capital LLC purchased a new stake in International Paper during the third quarter valued at about $4,870,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Up 1.5 %

International Paper stock traded up $0.81 during trading hours on Monday, reaching $56.25. The stock had a trading volume of 7,666,126 shares, compared to its average volume of 12,581,360. The stock has a market cap of $19.54 billion, a PE ratio of 35.83 and a beta of 1.02. The company has a fifty day simple moving average of $55.45 and a 200-day simple moving average of $52.34. 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.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Analysts forecast that International Paper will post 2.89 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. International Paper's dividend payout ratio (DPR) is presently 117.84%.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the sale, the director now directly owns 37,145 shares of the company's stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Truist Financial reaffirmed 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. Bank of America assumed coverage on shares of International Paper in a research note on Thursday. They set a "neutral" rating on the stock. Finally, BNP Paribas cut shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.88.

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.