International Paper (NYSE:IP) Shares Sold by Cowa LLC

Cowa LLC decreased its stake in shares of International Paper (NYSE:IP) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,469 shares of the basic materials company’s stock after selling 625 shares during the quarter. Cowa LLC’s holdings in International Paper were worth $671,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IP. Truist Financial restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price 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 research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Trading Down 0.8 %

Shares of NYSE IP opened at $55.62 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 $55.59 and a 200-day simple moving average of $52.55. The stock has a market capitalization of $19.32 billion, a PE ratio of 35.43, 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid 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 yield of 3.33%. International Paper’s payout ratio is 117.84%.

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.