National Pension Service Decreases Stock Position in International Paper (NYSE:IP)

National Pension Service lessened its position in International Paper (NYSE:IP) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 504,483 shares of the basic materials company’s stock after selling 26,277 shares during the quarter. National Pension Service’s holdings in International Paper were worth $27,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in International Paper during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in International Paper during the fourth quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in International Paper during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in International Paper during the third quarter worth approximately $28,000. Finally, Ashton Thomas Securities LLC purchased a new position in International Paper during the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 0.2 %

Shares of NYSE IP opened at $56.34 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. 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 stock has a fifty day simple moving average of $55.71 and a 200-day simple moving average of $53.07. The stock has a market capitalization of $29.64 billion, a PE ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02.

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%. On average, equities analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.4625 dividend. 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 3.28%. International Paper’s payout ratio is presently 117.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IP shares. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.