Huntington National Bank Has $9.15 Million Holdings in International Paper (NYSE:IP)

Huntington National Bank grew its position in shares of International Paper (NYSE:IP) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,932 shares of the basic materials company’s stock after buying an additional 5,372 shares during the quarter. Huntington National Bank’s holdings in International Paper were worth $9,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the fourth quarter worth $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the third quarter valued at $28,000. Picton Mahoney Asset Management raised its holdings in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $54.51 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $28.68 billion, a P/E ratio of 34.72, a PEG ratio of 0.39 and a beta of 1.02. The business has a 50-day moving average of $54.62 and a 200-day moving average of $53.84. International Paper has a 1 year low of $33.16 and a 1 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 analysts’ consensus estimates 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, equities analysts anticipate that International Paper will post 2.77 EPS for the current 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 given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IP. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

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.