Xponance Inc. Sells 771 Shares of International Paper (NYSE:IP)

Xponance Inc. decreased its position in International Paper (NYSE:IP) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,011 shares of the basic materials company’s stock after selling 771 shares during the period. Xponance Inc.’s holdings in International Paper were worth $2,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after buying an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new position in International Paper in the third quarter valued at $24,327,000. Wedmont Private Capital acquired a new position in International Paper in the fourth quarter valued at $376,000. Everence Capital Management Inc. acquired a new position in shares of International Paper during the fourth quarter valued at about $828,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after purchasing an additional 15,904 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

International Paper Trading Down 1.9 %

Shares of IP stock opened at $51.29 on Friday. 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 company has a 50-day simple moving average of $54.96 and a two-hundred day simple moving average of $53.42. The company has a market capitalization 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 (NYSE:IP) last issued its quarterly earnings data 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%. Research analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

International Paper Company Profile

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.