Greenleaf Trust Has $485,000 Holdings in International Paper (NYSE:IP)

Greenleaf Trust lifted its stake in shares of International Paper (NYSE:IP) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,020 shares of the basic materials company’s stock after acquiring an additional 568 shares during the period. Greenleaf Trust’s holdings in International Paper were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group bought a new position in International Paper during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at about $28,000. Versant Capital Management Inc raised its stake in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the period. Finally, City State Bank raised its stake in shares of International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 350 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IP has been the subject of several research reports. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. Finally, 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 note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Stock Down 3.6 %

International Paper stock opened at $53.81 on Wednesday. The firm has a market capitalization of $18.69 billion, a PE ratio of 34.27 and a beta of 1.02. The company’s 50-day moving average is $55.98 and its 200-day moving average is $51.78. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. 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 (NYSE:IP) last posted 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%. Sell-side analysts anticipate that International Paper will post 3.01 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.44%. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares of the company’s stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

About International Paper

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.