International Paper (NYSE:IP) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its holdings in shares of International Paper (NYSE:IP) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,670 shares of the basic materials company’s stock after selling 534 shares during the quarter. Securian Asset Management Inc.’s holdings in International Paper were worth $1,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IP. FMR LLC boosted its stake in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares during the last quarter. Artemis Investment Management LLP boosted its stake in International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after purchasing an additional 1,202,632 shares during the last quarter. Hill City Capital LP boosted its stake in International Paper by 287.5% during the 3rd quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock worth $75,718,000 after purchasing an additional 1,150,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Trading Up 2.1 %

NYSE IP opened at $51.44 on Friday. The firm’s 50-day moving average is $55.18 and its two-hundred day moving average is $53.30. International Paper has a 12 month low of $33.16 and a 12 month 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 $27.06 billion, a P/E ratio of 32.76, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last posted its 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 net margin of 2.99% and a return on equity of 4.75%. On average, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.60%. International Paper’s payout ratio is currently 117.83%.

International Paper 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.