OneAscent Wealth Management LLC Cuts Stock Holdings in International Paper (NYSE:IP)

OneAscent Wealth Management LLC lessened its holdings in International Paper (NYSE:IP) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,897 shares of the basic materials company’s stock after selling 774 shares during the quarter. OneAscent Wealth Management LLC’s holdings in International Paper were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IP. Brooklyn Investment Group acquired a new position in International Paper during the third quarter worth about $25,000. Sierra Ocean LLC acquired a new stake in shares of International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in International Paper in the 4th quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new position in International Paper during the third quarter worth $28,000. Finally, Picton Mahoney Asset Management boosted its position in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Bank of America began coverage on 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 target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Wednesday. Finally, Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Stock Performance

International Paper stock opened at $53.23 on Friday. The company has a market cap of $28.01 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock’s 50-day moving average is $54.86 and its 200-day moving average is $53.71.

International Paper (NYSE:IP) last announced its quarterly earnings results 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%. Equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 annualized dividend and a yield of 3.48%. 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.