International Paper (NYSE:IP) Shares Sold by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. reduced its stake in shares of International Paper (NYSE:IP - Free Report) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,812 shares of the basic materials company's stock after selling 7,705 shares during the quarter. Mesirow Institutional Investment Management Inc.'s holdings in International Paper were worth $3,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its holdings in International Paper by 4.5% during the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company's stock valued at $44,774,000 after buying an additional 39,404 shares during the period. Bard Financial Services Inc. purchased a new stake in shares of International Paper in the third quarter valued at $305,000. World Investment Advisors LLC raised its stake in shares of International Paper by 6.1% in the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company's stock valued at $449,000 after acquiring an additional 529 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of International Paper in the 3rd quarter worth about $614,000. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of International Paper during the 3rd quarter worth about $895,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Up 2.0 %

Shares of NYSE:IP traded up $0.92 on Thursday, reaching $47.67. The company had a trading volume of 2,200,143 shares, compared to its average volume of 8,617,651. The firm has a market capitalization of $25.16 billion, a PE ratio of 30.36, a PEG ratio of 0.39 and a beta of 0.99. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The firm's 50 day simple moving average is $51.34 and its 200-day simple moving average is $53.53.

International Paper (NYSE:IP - Get Free Report) last posted its 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 net margin of 2.99% and a return on equity of 4.75%. As a group, analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's payout ratio is presently 117.83%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IP. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective on the stock. Truist Financial decreased their target price on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.77.

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.