Patten Group Inc. Has $312,000 Stock Holdings in International Paper (NYSE:IP)

Patten Group Inc. lessened its position in International Paper (NYSE:IP) by 11.8% during the 4th quarter, Holdings Channel reports. The firm owned 5,795 shares of the basic materials company’s stock after selling 772 shares during the quarter. Patten Group Inc.’s holdings in International Paper were worth $312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper during the 3rd quarter worth about $24,327,000. Aptus Capital Advisors LLC lifted its position in International Paper by 15.1% during the 3rd 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 acquired a new position in International Paper during the 4th quarter worth about $376,000. Finally, Curi RMB Capital LLC acquired a new position in International Paper during the 3rd quarter worth about $4,870,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of NYSE:IP opened at $51.26 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $26.97 billion, a P/E ratio of 32.65, a P/E/G ratio of 0.39 and a beta of 1.02. The business has a 50-day moving average price of $55.65 and a two-hundred day moving average price of $53.21. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP) last announced 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 net margin of 2.99% and a return on equity of 4.75%. Equities analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.61%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Ratings Changes

IP has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.11.

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.