Wellington Management Group LLP Reduces Holdings in International Paper (NYSE:IP)

Wellington Management Group LLP trimmed its position in shares of International Paper (NYSE:IP - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 228,654 shares of the basic materials company's stock after selling 61,876 shares during the quarter. Wellington Management Group LLP owned 0.07% of International Paper worth $12,306,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after buying an additional 340,383 shares in the last quarter. Geode Capital Management LLC increased its holdings in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company's stock valued at $407,463,000 after acquiring an additional 99,720 shares in the last quarter. Norges Bank acquired a new position in International Paper during the fourth quarter worth about $109,201,000. Artemis Investment Management LLP lifted its holdings in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock valued at $108,706,000 after purchasing an additional 1,202,632 shares in the last quarter. Finally, Amundi grew its position in shares of International Paper by 28.7% in the fourth quarter. Amundi now owns 1,355,926 shares of the basic materials company's stock valued at $74,142,000 after purchasing an additional 302,440 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 0.2 %

Shares of IP traded up $0.10 during trading hours on Tuesday, hitting $47.68. The stock had a trading volume of 516,583 shares, compared to its average volume of 9,075,429. The company's fifty day simple moving average is $52.63 and its 200 day simple moving average is $53.70. 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. The firm has a market cap of $25.17 billion, a P/E ratio of 30.37, a P/E/G ratio of 0.39 and a beta of 0.99.

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%. Equities research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 dividend yield of 3.88%. International Paper's payout ratio is 117.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company lowered their target price on International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. 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 price objective on the stock. 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. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.32.

International Paper 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.