Commonwealth Equity Services LLC Cuts Stock Position in International Paper (NYSE:IP)

Commonwealth Equity Services LLC decreased its stake in International Paper (NYSE:IP) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,029 shares of the basic materials company’s stock after selling 2,489 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of International Paper worth $10,174,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. lifted its position in International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Artemis Investment Management LLP grew its holdings in International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after buying an additional 1,202,632 shares in the last quarter. Hill City Capital LP grew its holdings in shares of International Paper by 287.5% in the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after purchasing an additional 1,150,000 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position 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 purchasing an additional 537,825 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

Shares of NYSE IP opened at $52.70 on Thursday. The stock’s 50-day simple moving average is $55.07 and its 200-day simple moving average is $53.41. The firm has a market capitalization of $27.73 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two 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.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. As a group, equities research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.51%. International Paper’s payout ratio is 117.83%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $54.86.

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.