International Paper (NYSE:IP) Stock Holdings Trimmed by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its position in International Paper (NYSE:IP) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,812 shares of the basic materials company’s stock after selling 1,288 shares during the quarter. Wedbush Securities Inc.’s holdings in International Paper were worth $313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Wellington Management Group LLP bought a new position in International Paper in the 3rd quarter worth approximately $14,192,000. National Bank of Canada FI grew its holdings in International Paper by 47.5% in the 3rd quarter. National Bank of Canada FI now owns 246,434 shares of the basic materials company’s stock worth $12,038,000 after buying an additional 79,413 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in International Paper by 4.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 22,444 shares of the basic materials company’s stock worth $1,096,000 after buying an additional 888 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in International Paper by 1.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 160,736 shares of the basic materials company’s stock worth $7,852,000 after buying an additional 1,843 shares in the last quarter. Finally, Barclays PLC grew its holdings in International Paper by 4.5% in the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock worth $44,774,000 after buying an additional 39,404 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Wells Fargo & Company cut their target price on International Paper from $52.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday. 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 target price for the company. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Stock Up 10.1 %

NYSE IP opened at $49.18 on Thursday. The stock has a market cap of $25.96 billion, a PE ratio of 31.33, a PEG ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The firm has a 50-day simple moving average of $53.09 and a 200 day simple moving average of $53.71.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) 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%. On average, research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 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.