Rhumbline Advisers Sells 7,921 Shares of International Paper (NYSE:IP)

Rhumbline Advisers decreased its stake in shares of International Paper (NYSE:IP - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 602,773 shares of the basic materials company's stock after selling 7,921 shares during the period. Rhumbline Advisers owned 0.17% of International Paper worth $32,441,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in IP. First Horizon Advisors Inc. boosted its holdings in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company's stock valued at $160,000 after acquiring an additional 177 shares during the period. AlphaMark Advisors LLC lifted its position in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 205 shares during the period. Kestra Private Wealth Services LLC grew its holdings in International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after buying an additional 212 shares during the last quarter. Finally, Empirical Finance LLC increased its position in International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company's stock worth $599,000 after buying an additional 224 shares during the period. 81.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IP shares. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a "neutral" rating 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 on the stock. in a report on Wednesday, November 13th. Finally, Truist Financial reiterated 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.88.

International Paper Price Performance

Shares of NYSE:IP traded down $0.44 during midday trading on Friday, reaching $55.62. 5,734,734 shares of the company's stock were exchanged, compared to its average volume of 11,720,951. The firm has a market capitalization of $19.32 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company's 50 day simple moving average is $55.59 and its two-hundred day simple moving average is $52.55. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

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

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's dividend payout ratio (DPR) 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.