Jacobi Capital Management LLC Reduces Stock Position in International Paper (NYSE:IP)

Jacobi Capital Management LLC lowered its stake in International Paper (NYSE:IP) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,587 shares of the basic materials company’s stock after selling 313 shares during the quarter. Jacobi Capital Management LLC’s holdings in International Paper were worth $1,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 worth $407,463,000 after acquiring an additional 99,720 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of International Paper by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after acquiring an additional 537,825 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.2 %

Shares of IP stock opened at $56.34 on Friday. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a one year low of $33.16 and a one year high of $60.36. The company’s fifty day moving average price is $55.71 and its 200-day moving average price is $53.07. 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 announced its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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 issued a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.28%. International Paper’s dividend payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IP. Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Truist Financial restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

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.