Flputnam Investment Management Co. Has $3.76 Million Stake in International Paper (NYSE:IP)

Flputnam Investment Management Co. reduced its stake in International Paper (NYSE:IP) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,783 shares of the basic materials company’s stock after selling 2,657 shares during the period. Flputnam Investment Management Co.’s holdings in International Paper were worth $3,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IP. Pacer Advisors Inc. lifted its position in shares of International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after acquiring an additional 7,424 shares during the period. Lord Abbett & CO. LLC bought a new stake in International Paper during the third quarter worth about $24,327,000. Aptus Capital Advisors LLC grew its stake in International Paper by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after buying an additional 785 shares in the last quarter. Wedmont Private Capital bought a new position in International Paper in the fourth quarter valued at approximately $376,000. Finally, Curi RMB Capital LLC bought a new position in shares of International Paper in the 3rd quarter valued at $4,870,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Truist Financial reaffirmed 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. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Stock Performance

NYSE IP opened at $56.34 on Friday. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02. 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 has a twelve month low of $33.16 and a twelve month high of $60.36. The stock has a fifty day simple moving average of $55.71 and a 200 day simple moving average of $53.07.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Sell-side analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, February 24th. International Paper’s dividend 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.