Wedbush Securities Inc. Sells 1,288 Shares of International Paper (NYSE:IP)

Wedbush Securities Inc. cut its holdings in International Paper (NYSE:IP) by 18.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,812 shares of the basic materials company’s stock after selling 1,288 shares during the period. Wedbush Securities Inc.’s holdings in International Paper were worth $313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in shares of International Paper during the fourth quarter worth $5,358,000. Unison Advisors LLC boosted its position in shares of International Paper by 1.0% during the fourth quarter. Unison Advisors LLC now owns 57,919 shares of the basic materials company’s stock worth $3,117,000 after purchasing an additional 550 shares in the last quarter. Yoffe Investment Management LLC bought a new position in shares of International Paper during the fourth quarter worth $378,000. World Investment Advisors boosted its position in shares of International Paper by 25.9% during the fourth quarter. World Investment Advisors now owns 11,572 shares of the basic materials company’s stock worth $623,000 after purchasing an additional 2,381 shares in the last quarter. Finally, OneAscent Financial Services LLC boosted its position in shares of International Paper by 17.9% during the fourth quarter. OneAscent Financial Services LLC now owns 7,041 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 1,068 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

International Paper Stock Up 10.1 %

International Paper stock opened at $49.18 on Thursday. The firm has a market capitalization of $25.96 billion, a PE ratio of 31.33, a P/E/G ratio of 0.39 and a beta of 0.99. The company’s 50-day moving average is $53.09 and its 200-day moving average is $53.71. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. 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 (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.76%. International Paper’s dividend payout ratio is presently 117.83%.

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.