International Paper (NYSE:IP) Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC trimmed its position in International Paper (NYSE:IP) by 5.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,080 shares of the basic materials company’s stock after selling 357 shares during the period. Lifeworks Advisors LLC’s holdings in International Paper were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inceptionr LLC increased its holdings in International Paper by 76.0% in the 4th quarter. Inceptionr LLC now owns 15,684 shares of the basic materials company’s stock worth $844,000 after buying an additional 6,772 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of International Paper in the 4th quarter valued at $21,307,000. Arizona State Retirement System boosted its holdings in shares of International Paper by 1.4% in the 4th quarter. Arizona State Retirement System now owns 95,851 shares of the basic materials company’s stock valued at $5,159,000 after acquiring an additional 1,316 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of International Paper in the fourth quarter worth $9,063,000. Finally, SPC Financial Inc. raised its holdings in shares of International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 1.3 %

Shares of NYSE:IP opened at $52.39 on Friday. The firm has a market capitalization of $27.56 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The business’s 50 day moving average price is $55.49 and its 200-day moving average price is $53.27. 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 has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last announced its 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%. On average, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.53%. International Paper’s payout ratio is currently 117.83%.

Wall Street Analyst Weigh In

Several research firms have commented on IP. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup began coverage on International Paper in a research report on Wednesday. They set a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.86.

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.