CIBC Private Wealth Group LLC Sells 880 Shares of International Paper (NYSE:IP)

CIBC Private Wealth Group LLC lowered its stake in shares of International Paper (NYSE:IP) by 12.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,944 shares of the basic materials company’s stock after selling 880 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in International Paper were worth $325,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SPC Financial Inc. increased its holdings in International Paper by 1.4% in the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after buying an additional 200 shares during the period. AlphaMark Advisors LLC increased its stake in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares during the last quarter. Inspire Advisors LLC raised its position in International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in shares of International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on IP shares. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Stock Performance

IP stock opened at $47.89 on Friday. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. 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 stock has a 50-day moving average price of $54.18 and a 200-day moving average price of $53.82. The firm has a market cap of $25.20 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last issued its quarterly earnings results 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%. As a group, equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio 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.