Burney Co. Sells 23,621 Shares of International Paper (NYSE:IP)

Burney Co. lessened its stake in shares of International Paper (NYSE:IPFree Report) by 57.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,311 shares of the basic materials company’s stock after selling 23,621 shares during the period. Burney Co.’s holdings in International Paper were worth $614,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Resurgent Financial Advisors LLC bought a new position in shares of International Paper in the 4th quarter valued at $27,000. Venturi Wealth Management LLC increased its stake in shares of International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 753 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of International Paper by 60.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 885 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 333 shares during the last quarter. Desjardins Global Asset Management Inc. increased its stake in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Finally, Quarry LP increased its stake in shares of International Paper by 992.2% in the 2nd quarter. Quarry LP now owns 1,114 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.

International Paper Stock Up 1.1 %

Shares of NYSE:IP opened at $35.26 on Friday. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 43.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The business’s 50-day moving average is $36.44 and its 200-day moving average is $35.15. International Paper has a 1 year low of $29.00 and a 1 year high of $39.46.

International Paper (NYSE:IPGet Free Report) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the company posted $0.87 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts predict that International Paper will post 1.92 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 22nd will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend is Wednesday, February 21st. International Paper’s payout ratio is 225.61%.

Analysts Set New Price Targets

IP has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price target on International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, October 18th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Wells Fargo & Company cut their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Truist Financial cut their price objective on International Paper from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, International Paper presently has a consensus rating of “Hold” and an average price target of $35.00.

Get Our Latest Research Report on IP

About International Paper

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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