International Paper (NYSE:IP) Shares Sold by Del Sette Capital Management LLC

Del Sette Capital Management LLC cut its holdings in International Paper (NYSE:IP) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,222 shares of the basic materials company’s stock after selling 4,974 shares during the period. International Paper comprises about 1.6% of Del Sette Capital Management LLC’s holdings, making the stock its 23rd largest position. Del Sette Capital Management LLC’s holdings in International Paper were worth $2,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IP. First Horizon Advisors Inc. lifted its stake 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 worth $160,000 after purchasing an additional 177 shares during the last quarter. SPC Financial Inc. raised its holdings in International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after purchasing an additional 200 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after buying an additional 204 shares in the last quarter. Inspire Advisors LLC grew its position in shares of International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after buying an additional 204 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised 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 worth $86,000 after acquiring an additional 205 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday. They set an “overweight” rating and a $59.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Down 1.9 %

Shares of NYSE:IP opened at $51.29 on Friday. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The firm’s 50-day simple moving average is $54.96 and its 200-day simple moving average is $53.46. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.61%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

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.