Huntington National Bank Has $9.15 Million Holdings in International Paper (NYSE:IP)

Huntington National Bank boosted its holdings in shares of International Paper (NYSE:IP) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,932 shares of the basic materials company’s stock after buying an additional 5,372 shares during the quarter. Huntington National Bank’s holdings in International Paper were worth $9,146,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in shares of International Paper during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper in the fourth quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the third quarter worth $28,000. Picton Mahoney Asset Management boosted its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc grew its stake in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on IP shares. 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. 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 note on Friday, January 31st. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Finally, Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Trading Up 1.6 %

Shares of International Paper stock opened at $54.51 on Thursday. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The firm has a market capitalization of $28.68 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. 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 company’s fifty day moving average price is $54.62 and its two-hundred day moving average price is $53.84.

International Paper (NYSE:IP) last posted its 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%. On average, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business 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 was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.39%. International Paper’s payout ratio is presently 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.