Rhumbline Advisers Cuts Stake in International Paper (NYSE:IP)

Rhumbline Advisers decreased its stake in International Paper (NYSE:IP) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 602,773 shares of the basic materials company’s stock after selling 7,921 shares during the quarter. Rhumbline Advisers’ holdings in International Paper were worth $32,441,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC boosted its holdings in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares during the period. Geode Capital Management LLC boosted its stake 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 purchasing an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its stake in International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after buying an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after buying an additional 537,825 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Up 2.0 %

Shares of NYSE:IP opened at $57.26 on Wednesday. The company’s fifty day moving average is $55.46 and its two-hundred day moving average is $52.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 36.47 and a beta of 1.02.

International Paper (NYSE:IP) last issued 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 return on equity of 4.75% and a net margin of 2.99%. Equities analysts anticipate that International Paper will post 2.89 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is 117.84%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

International Paper 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.