Barclays PLC Trims Stock Position in International Paper (NYSE:IP)

Barclays PLC reduced its stake in shares of International Paper (NYSE:IP) by 15.1% in the 4th quarter, HoldingsChannel reports. The firm owned 778,089 shares of the basic materials company’s stock after selling 138,510 shares during the quarter. Barclays PLC’s holdings in International Paper were worth $41,875,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. SageView Advisory Group LLC grew its holdings in shares of International Paper by 21.7% during the fourth quarter. SageView Advisory Group LLC now owns 13,502 shares of the basic materials company’s stock worth $727,000 after buying an additional 2,404 shares in the last quarter. Envision Financial Planning LLC acquired a new position in International Paper in the 4th quarter valued at $897,000. Townsquare Capital LLC lifted its stake in shares of International Paper by 69.2% during the 4th quarter. Townsquare Capital LLC now owns 11,646 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 4,765 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of International Paper by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 20,533 shares of the basic materials company’s stock worth $1,105,000 after purchasing an additional 7,325 shares during the last quarter. Finally, Argent Trust Co acquired a new position in International Paper in the fourth quarter valued at $235,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on IP shares. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Wells Fargo & Company cut their price target on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, Truist Financial reissued a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

Shares of IP stock opened at $46.32 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a market capitalization of $24.45 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. 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 fifty day simple moving average of $52.09 and a 200-day simple moving average of $53.59.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 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.