National Bank of Canada FI Has $4.89 Million Position in International Paper (NYSE:IP)

National Bank of Canada FI trimmed its stake in shares of International Paper (NYSE:IP) by 63.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,910 shares of the basic materials company’s stock after selling 155,524 shares during the quarter. National Bank of Canada FI’s holdings in International Paper were worth $4,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IP. SPC Financial Inc. grew its holdings in shares of International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after purchasing an additional 200 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after acquiring an additional 204 shares during the last quarter. Inspire Advisors LLC increased its position in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 205 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after purchasing an additional 212 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 2.6 %

Shares of NYSE IP opened at $47.89 on Monday. 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 firm has a market cap of $25.20 billion, a PE ratio of 30.50, a P/E/G ratio of 0.39 and a beta of 0.99. The company’s fifty day simple moving average is $54.18 and its 200 day simple moving average is $53.85. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

IP has been the subject of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.32.

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.