International Paper (NYSE:IP) Stock Position Lessened by Private Trust Co. NA

Private Trust Co. NA reduced its stake in shares of International Paper (NYSE:IP) by 21.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,405 shares of the basic materials company’s stock after selling 1,222 shares during the period. Private Trust Co. NA’s holdings in International Paper were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of IP. FMR LLC boosted its stake in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in International Paper by 0.3% during the third 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 period. Finally, Massachusetts Financial Services Co. MA grew its holdings in International Paper by 19.5% during the third 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 period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

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

International Paper Trading Down 1.9 %

International Paper stock opened at $55.28 on Tuesday. International Paper has a 52 week low of $33.16 and a 52 week 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 capitalization of $29.08 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a 50 day moving average price of $55.73 and a 200 day moving average price of $53.18.

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 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%. Research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.35%. International Paper’s payout ratio is presently 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.