Ethic Inc. Boosts Holdings in International Paper (NYSE:IP)

Ethic Inc. grew its position in shares of International Paper (NYSE:IP) by 35.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,457 shares of the basic materials company’s stock after buying an additional 5,870 shares during the quarter. Ethic Inc.’s holdings in International Paper were worth $1,209,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of IP. Price T Rowe Associates Inc. MD lifted its holdings in International Paper by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company’s stock valued at $2,561,651,000 after acquiring an additional 368,648 shares during the period. Vanguard Group Inc. increased its holdings in shares of International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC lifted its stake in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in International Paper by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock worth $450,586,000 after buying an additional 24,816 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 0.2%

Shares of NYSE:IP opened at $48.00 on Wednesday. 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 company has a market capitalization of $25.34 billion, a P/E ratio of 30.57, a P/E/G ratio of 0.39 and a beta of 1.03. International Paper has a 52-week low of $39.13 and a 52-week high of $60.36. The stock’s fifty day simple moving average is $48.75 and its 200-day simple moving average is $53.40.

International Paper (NYSE:IP) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share. As a group, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.85%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IP. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial dropped their price objective on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper has an average rating of “Hold” and a consensus price target of $54.21.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

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.