International Paper (NYSE:IP) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of International Paper (NYSE:IP - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,282,690 shares of the basic materials company's stock after selling 318,956 shares during the quarter. Pictet Asset Management Holding SA owned 0.37% of International Paper worth $69,034,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SPC Financial Inc. increased its stake in shares of International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock worth $759,000 after purchasing an additional 200 shares in the last quarter. AlphaMark Advisors LLC increased its position in International Paper by 5.7% during the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after buying an additional 204 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of International Paper by 1.7% in the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after acquiring an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 205 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in shares of International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after acquiring an additional 212 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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International Paper Trading Down 11.5 %

International Paper stock traded down $6.25 during midday trading on Thursday, reaching $48.21. The stock had a trading volume of 2,678,426 shares, compared to its average volume of 9,392,354. The stock has a market capitalization of $25.36 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock's 50-day simple moving average is $54.62 and its 200 day simple moving average is $53.84. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. Analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's payout ratio is currently 117.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IP shares. Truist Financial reissued 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. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective on the stock. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. Finally, StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $55.32.

About International Paper

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.