Global Retirement Partners LLC Reduces Stock Holdings in International Paper (NYSE:IP)

Global Retirement Partners LLC reduced its position in International Paper (NYSE:IP) by 29.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,015 shares of the basic materials company’s stock after selling 2,061 shares during the quarter. Global Retirement Partners LLC’s holdings in International Paper were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of International Paper in the third quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper during the third quarter worth $28,000. Finally, Versant Capital Management Inc boosted its holdings in shares of International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Down 0.4 %

Shares of International Paper stock opened at $55.33 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The firm has a market cap of $19.22 billion, a PE ratio of 35.24, a PEG ratio of 0.39 and a beta of 1.02. The company has a 50 day simple moving average of $55.58 and a two-hundred day simple moving average of $52.81.

International Paper (NYSE:IP) last posted its quarterly earnings data 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%. Analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed 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. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Monday, February 24th. International Paper’s payout ratio is currently 117.84%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IP shares. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. BNP Paribas lowered 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. Finally, Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. One investment 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.