PNC Financial Services Group Inc. reduced its position in International Paper (NYSE:IP - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 177,001 shares of the basic materials company's stock after selling 18,779 shares during the period. PNC Financial Services Group Inc. owned about 0.05% of International Paper worth $9,526,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in International Paper in the 3rd quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in International Paper in the 4th quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in International Paper in the 3rd quarter valued at about $28,000. Finally, Legacy Investment Solutions LLC acquired a new stake in International Paper in the 3rd quarter valued at about $28,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. BNP Paribas downgraded 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 report on Wednesday, November 13th. Truist Financial restated a "buy" rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. Finally, Royal Bank of Canada restated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, International Paper has a consensus rating of "Moderate Buy" and an average price target of $54.86.
Get Our Latest Stock Analysis on International Paper
International Paper Stock Performance
Shares of NYSE:IP opened at $49.36 on Wednesday. The company's 50 day simple moving average is $55.33 and its 200 day simple moving average is $53.32. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 31.44, 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 current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.
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 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%. As a group, research analysts predict that International Paper will post 2.77 EPS for the current fiscal year.
International Paper Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.75%. International Paper's payout ratio is presently 117.83%.
About International Paper
(
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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