Advisors Asset Management Inc. Trims Holdings in International Paper (NYSE:IP)

Advisors Asset Management Inc. lowered its stake in shares of International Paper (NYSE:IP) by 27.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 165,427 shares of the basic materials company’s stock after selling 61,294 shares during the period. Advisors Asset Management Inc.’s holdings in International Paper were worth $8,903,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IP. FMR LLC increased its stake in 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 purchasing an additional 8,370,273 shares during the period. Geode Capital Management LLC increased its stake in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after buying an additional 99,720 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 0.3% during 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. 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 period. Finally, Point72 Asset Management L.P. grew its stake in shares of International Paper by 511.1% in 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 acquiring an additional 2,484,386 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

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

International Paper Stock Up 0.7 %

Shares of NYSE IP opened at $51.93 on Wednesday. The stock has a market cap of $27.32 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The business has a 50-day moving average price of $55.11 and a 200 day moving average price of $53.41. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced 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 research analysts forecast 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio 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.