International Paper (NYSE:IP) Shares Purchased by Ethic Inc.

Ethic Inc. boosted its stake in shares of International Paper (NYSE:IP) by 35.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,457 shares of the basic materials company’s stock after acquiring an additional 5,870 shares during the period. Ethic Inc.’s holdings in International Paper were worth $1,209,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of IP. Pacer Advisors Inc. increased its position in International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after purchasing an additional 7,424 shares in the last quarter. Wedmont Private Capital acquired a new position in International Paper during the fourth quarter valued at approximately $376,000. Allspring Global Investments Holdings LLC grew its stake in International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after buying an additional 15,904 shares during the period. Merit Financial Group LLC acquired a new stake in shares of International Paper in the fourth quarter worth $372,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of International Paper in the fourth quarter worth $788,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

International Paper Price Performance

Shares of NYSE IP opened at $48.00 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a fifty-two week low of $39.13 and a fifty-two week high of $60.36. The business has a 50 day moving average price of $48.75 and a two-hundred day moving average price of $53.40. The firm has a market cap of $25.34 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the company posted $0.17 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Sell-side analysts expect 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 will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.85%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analyst Ratings Changes

Several research firms recently weighed in on IP. StockNews.com lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Citigroup initiated coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Finally, Truist Financial decreased their price target on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average target price of $54.21.

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.