Keystone Financial Group cut its stake in International Paper (NYSE:IP - Free Report) by 31.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,822 shares of the basic materials company's stock after selling 14,026 shares during the period. Keystone Financial Group's holdings in International Paper were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of IP. Sierra Ocean LLC acquired a new position in International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of International Paper during the 4th quarter worth about $26,000. Picton Mahoney Asset Management lifted its stake in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc increased its stake 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 buying an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.
International Paper Stock Performance
Shares of IP stock traded up $0.02 during midday trading on Friday, hitting $46.32. The company had a trading volume of 3,511,121 shares, compared to its average volume of 8,946,266. The stock has a market cap of $24.45 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 0.39 and a beta of 0.99. The company's 50 day simple moving average is $52.09 and its 200 day simple moving average is $53.59. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. 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 (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 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%. Research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal 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 dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Monday, February 24th. International Paper's payout ratio is 117.83%.
Analysts Set New Price Targets
IP has been the topic of a number of research analyst reports. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. Wells Fargo & Company cut their price target on International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Truist Financial reiterated a "buy" rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.32.
Get Our Latest Research Report on IP
International Paper Profile
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Free Report)
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.
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