US Bancorp DE Has $4.61 Million Stock Position in International Paper (NYSE:IP)

US Bancorp DE decreased its position in International Paper (NYSE:IP) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,570 shares of the basic materials company’s stock after selling 3,567 shares during the period. US Bancorp DE’s holdings in International Paper were worth $4,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares during the period. Geode Capital Management LLC boosted its stake in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after purchasing an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after purchasing an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

International Paper Stock Up 2.7 %

Shares of IP stock opened at $52.71 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm’s 50-day moving average is $55.60 and its 200-day moving average is $53.20. The stock has a market cap of $27.73 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Sell-side analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 3.51%. International Paper’s dividend payout ratio is presently 117.83%.

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.