CIBC Private Wealth Group LLC Has $325,000 Stock Holdings in International Paper (NYSE:IP)

CIBC Private Wealth Group LLC lowered its position in shares of International Paper (NYSE:IP) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,944 shares of the basic materials company’s stock after selling 880 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in International Paper were worth $325,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper during the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC acquired a new position in International Paper in the third quarter valued at approximately $28,000. Picton Mahoney Asset Management boosted its stake in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IP. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on shares of 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, Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

Shares of NYSE IP opened at $47.89 on Friday. The business has a 50-day moving average of $54.18 and a 200-day moving average of $53.82. International Paper has a fifty-two week low of $33.16 and a fifty-two week 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 has a market capitalization of $25.20 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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 predict 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. Investors of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. International Paper’s dividend payout ratio (DPR) 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.