International Paper (NYSE:IP) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its position in International Paper (NYSE:IP - Free Report) by 10.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 191,610 shares of the basic materials company's stock after selling 23,440 shares during the period. Prudential Financial Inc. owned 0.06% of International Paper worth $10,312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted 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 purchasing an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in International Paper during the third quarter worth approximately $24,327,000. Wedmont Private Capital purchased a new position in International Paper during the fourth quarter worth approximately $376,000. Everence Capital Management Inc. acquired a new position in International Paper during the fourth quarter worth $828,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of International Paper by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after acquiring an additional 15,904 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Royal Bank of Canada restated an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Finally, Citigroup initiated coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Paper currently has an average rating of "Moderate Buy" and an average price target of $55.32.

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International Paper Stock Up 1.4 %

Shares of NYSE IP traded up $0.73 during midday trading on Wednesday, hitting $54.38. The company's stock had a trading volume of 853,570 shares, compared to its average volume of 9,456,438. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market capitalization of $28.61 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The business's fifty day simple moving average is $54.69 and its two-hundred day simple moving average is $53.83. 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 issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. On average, equities analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.40%. International Paper's payout ratio is 117.83%.

International Paper Company 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.