Prudential Financial Inc. Lowers Stake in International Paper (NYSE:IP)

Prudential Financial Inc. lessened its holdings in International Paper (NYSE:IP) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 191,610 shares of the basic materials company’s stock after selling 23,440 shares during the quarter. Prudential Financial Inc. owned about 0.06% of International Paper worth $10,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CMC Financial Group bought a new position in International Paper during the 4th quarter valued at approximately $218,000. Vanguard Group Inc. increased its holdings in shares of International Paper by 0.8% during 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 acquiring an additional 340,383 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of International Paper in the 4th quarter worth about $403,000. KLP Kapitalforvaltning AS bought a new position in International Paper in the 4th quarter worth about $6,292,000. Finally, Sei Investments Co. grew its position in International Paper by 9.4% during the 4th quarter. Sei Investments Co. now owns 398,830 shares of the basic materials company’s stock valued at $21,465,000 after purchasing an additional 34,414 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $53.23 on Friday. The firm’s 50 day moving average price is $54.86 and its 200-day moving average price is $53.67. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price for the company. Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

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.