Investors Research Corp Trims Stake in International Paper (NYSE:IP)

Investors Research Corp lowered its stake in shares of International Paper (NYSE:IP) by 42.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,437 shares of the basic materials company’s stock after selling 24,746 shares during the quarter. Investors Research Corp’s holdings in International Paper were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in International Paper during the third quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new position in International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper in the fourth quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in shares of International Paper in the third quarter worth $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the third quarter worth $28,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 1.3 %

NYSE IP opened at $52.39 on Monday. 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 firm’s fifty day moving average price is $55.49 and its 200 day moving average price is $53.30. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

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 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, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current fiscal 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 issued 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 3.53%. International Paper’s dividend payout ratio is presently 117.83%.

Analyst Upgrades and Downgrades

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

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.