Heartland Advisors Inc. Sells 5,728 Shares of International Paper (NYSE:IP)

Heartland Advisors Inc. cut its position in International Paper (NYSE:IP) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,557 shares of the basic materials company’s stock after selling 5,728 shares during the quarter. Heartland Advisors Inc.’s holdings in International Paper were worth $7,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Brooklyn Investment Group acquired a new position in shares of International Paper during the 3rd quarter worth about $25,000. Sierra Ocean LLC acquired a new position in International Paper during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in International Paper in the fourth quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the third quarter valued at approximately $28,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Truist Financial restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Stock Performance

NYSE:IP opened at $53.23 on Friday. The company has a market cap of $28.01 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a fifty day moving average price of $54.86 and a 200-day moving average price of $53.67.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. International Paper’s dividend payout ratio (DPR) is 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.