International Paper (NYSE:IP) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in International Paper (NYSE:IP) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 878,221 shares of the basic materials company’s stock after acquiring an additional 15,904 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of International Paper worth $46,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. First Horizon Advisors Inc. grew its stake in shares of International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after buying an additional 177 shares in the last quarter. AlphaMark Advisors LLC grew its stake in shares of International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after buying an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after buying an additional 205 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after buying an additional 212 shares in the last quarter. Finally, Empirical Finance LLC grew its stake in shares of International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after buying an additional 224 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Up 1.8 %

Shares of IP stock opened at $55.59 on Friday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The firm has a market cap of $19.31 billion, a PE ratio of 35.41 and a beta of 1.02. The stock has a 50 day moving average of $55.48 and a 200-day moving average of $52.17. 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 (NYSE:IP) last issued 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, equities analysts predict that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

Analyst Ratings Changes

IP has been the subject of several recent research reports. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. 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 report on Friday, January 31st. Bank of America assumed coverage on International Paper in a research report on Thursday. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.