International Paper (NYSE:IP) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its position in shares of International Paper (NYSE:IP) by 27.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,427 shares of the basic materials company’s stock after selling 61,294 shares during the quarter. Advisors Asset Management Inc.’s holdings in International Paper were worth $8,903,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after purchasing an additional 8,370,273 shares during the period. Geode Capital Management LLC grew its holdings in International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares during the period. Charles Schwab Investment Management Inc. raised its position in International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $51.93 on Wednesday. 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 business’s fifty day moving average price is $55.11 and its two-hundred day moving average price is $53.41. The stock has a market cap of $27.32 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a one year low of $33.16 and a one year high of $60.36.

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

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.56%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Ratings Changes

Several analysts recently commented on IP shares. Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial reissued a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

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.