Sei Investments Co. Acquires 34,414 Shares of International Paper (NYSE:IP)

Sei Investments Co. increased its holdings in International Paper (NYSE:IP) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 398,830 shares of the basic materials company’s stock after purchasing an additional 34,414 shares during the quarter. Sei Investments Co. owned approximately 0.11% of International Paper worth $21,465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. Cerity Partners LLC raised its position in shares of International Paper by 7.3% during the third quarter. Cerity Partners LLC now owns 38,050 shares of the basic materials company’s stock worth $1,859,000 after acquiring an additional 2,588 shares during the last quarter. Daiwa Securities Group Inc. increased its position in International Paper by 1.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 40,947 shares of the basic materials company’s stock valued at $2,000,000 after purchasing an additional 442 shares during the period. Private Trust Co. NA raised its holdings in International Paper by 15.9% during the 3rd quarter. Private Trust Co. NA now owns 5,627 shares of the basic materials company’s stock worth $275,000 after purchasing an additional 771 shares during the last quarter. FMR LLC boosted its stake in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of International Paper during the third quarter worth $25,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IP shares. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial restated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Finally, Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

Shares of IP opened at $55.65 on Thursday. The business’s fifty day moving average is $54.96 and its 200 day moving average is $53.62. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. 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 cap of $29.28 billion, a P/E ratio of 35.45, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal 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 paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.32%. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

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.