SouthState Corp Decreases Stock Holdings in International Paper (NYSE:IP)

SouthState Corp reduced its position in shares of International Paper (NYSE:IP) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,219 shares of the basic materials company’s stock after selling 1,620 shares during the period. SouthState Corp’s holdings in International Paper were worth $335,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in International Paper in the 3rd quarter worth approximately $25,000. Sierra Ocean LLC bought a new position in shares of International Paper during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper in the fourth quarter worth $26,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the third quarter valued at $28,000. Finally, Picton Mahoney Asset Management increased its position in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares during the period. 81.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

IP has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, 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 note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Trading Up 0.4 %

International Paper stock opened at $51.59 on Tuesday. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a market capitalization of $27.14 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The business’s fifty day simple moving average is $55.14 and its two-hundred day simple moving average is $53.39. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. As a group, equities 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 was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

International Paper 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.