Rockefeller Capital Management L.P. Sells 116,252 Shares of International Paper (NYSE:IP)

Rockefeller Capital Management L.P. lessened its stake in shares of International Paper (NYSE:IP - Free Report) by 89.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,062 shares of the basic materials company's stock after selling 116,252 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in International Paper were worth $757,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IP. Sterling Capital Management LLC grew its stake in International Paper by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 20,533 shares of the basic materials company's stock worth $1,105,000 after buying an additional 7,325 shares during the last quarter. Argent Trust Co bought a new stake in shares of International Paper during the fourth quarter worth $235,000. Treasurer of the State of North Carolina increased its stake in shares of International Paper by 12.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 174,986 shares of the basic materials company's stock valued at $9,418,000 after buying an additional 19,270 shares in the last quarter. DRW Securities LLC bought a new position in shares of International Paper in the fourth quarter valued at about $201,000. Finally, Raymond James Financial Inc. acquired a new position in International Paper during the 4th quarter worth about $21,307,000. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Performance

Shares of IP stock opened at $46.49 on Wednesday. The stock has a market cap of $24.54 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The stock has a 50-day moving average of $51.53 and a 200-day moving average of $53.57. 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 one year low of $33.16 and a one year 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) 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, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.98%. International Paper's dividend payout ratio is presently 117.83%.

Analyst Ratings Changes

IP has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Royal Bank of Canada restated an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Finally, Truist Financial lowered their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Paper presently has a consensus rating of "Moderate Buy" and an average target price of $54.77.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.