Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in shares of International Paper (NYSE:IP – Free Report) by 28.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,576 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in International Paper were worth $137,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of International Paper during the fourth quarter worth approximately $788,000. Jones Financial Companies Lllp increased its position in shares of International Paper by 18.0% during the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company’s stock worth $946,000 after purchasing an additional 2,685 shares in the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of International Paper during the fourth quarter worth approximately $502,000. Finally, Korea Investment CORP increased its position in shares of International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company’s stock worth $16,720,000 after purchasing an additional 213,783 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
International Paper Trading Down 0.8%
Shares of IP stock opened at $47.60 on Wednesday. The business’s 50 day moving average is $47.15 and its two-hundred day moving average is $52.31. International Paper has a twelve month low of $41.50 and a twelve month high of $60.36. The company has a market capitalization of $25.13 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper’s dividend payout ratio is currently 158.12%.
Analysts Set New Price Targets
IP has been the subject of several research reports. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. 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 Wednesday, March 26th. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, UBS Group started coverage on International Paper in a research report on Wednesday, June 4th. They set a “buy” rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Hold” and an average price target of $54.54.
Get Our Latest Research Report on IP
Insider Buying and Selling
In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by insiders.
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.
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