Flputnam Investment Management Co. Has $3.76 Million Stock Position in International Paper (NYSE:IP)

Flputnam Investment Management Co. cut its position in International Paper (NYSE:IP) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,783 shares of the basic materials company’s stock after selling 2,657 shares during the quarter. Flputnam Investment Management Co.’s holdings in International Paper were worth $3,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in International Paper during the third quarter worth $25,000. Sierra Ocean LLC purchased a new position in shares of International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in International Paper during the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in International Paper during the third quarter worth about $28,000. Finally, Legacy Investment Solutions LLC bought a new stake in International Paper in the third quarter worth about $28,000. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $56.34 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The stock has a market cap of $29.64 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock has a fifty day moving average of $55.71 and a 200-day moving average of $53.07.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. Equities research 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 will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.28%. International Paper’s dividend payout ratio is currently 117.83%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IP. Truist Financial restated 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. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Finally, Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus target price of $51.88.

About International Paper

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.