International Paper (NYSE:IP) Position Lowered by Outfitter Financial LLC

Outfitter Financial LLC reduced its position in International Paper (NYSE:IP) by 8.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,675 shares of the basic materials company’s stock after selling 2,295 shares during the period. Outfitter Financial LLC’s holdings in International Paper were worth $1,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IP. Sierra Ocean LLC acquired a new position in shares of International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in International Paper in the fourth quarter worth about $26,000. Brooklyn Investment Group acquired a new position in International Paper in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in International Paper in the third quarter valued at approximately $28,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of International Paper during the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on 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. Truist Financial reiterated 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 price target for the company. in a research report on Wednesday, November 13th. Finally, Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.88.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

IP stock opened at $56.10 on Friday. The company has a 50-day simple moving average of $55.59 and a 200 day simple moving average of $52.55. The company has a market capitalization of $19.49 billion, a P/E ratio of 35.73, a PEG ratio of 0.39 and a beta of 1.02. 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 $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings results 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 return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

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.