Choreo LLC Has $1.51 Million Stock Holdings in International Paper (NYSE:IP)

Choreo LLC lessened its holdings in shares of International Paper (NYSE:IP) by 23.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,170 shares of the basic materials company’s stock after selling 8,757 shares during the quarter. Choreo LLC’s holdings in International Paper were worth $1,514,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its holdings 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 acquiring an additional 8,370,273 shares during the period. Geode Capital Management LLC increased its position in shares of International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after buying an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of International Paper by 19.5% in 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 buying an additional 537,825 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

International Paper Price Performance

IP stock opened at $56.15 on Friday. The stock has a 50-day moving average price of $55.73 and a two-hundred day moving average price of $51.88. The stock has a market cap of $19.51 billion, a PE ratio of 35.76 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. Equities analysts forecast that International Paper will post 3.01 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. International Paper’s dividend payout ratio is 117.83%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Company 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.