WBI Investments Inc. Has $2.78 Million Position in International Paper (NYSE:IP)

WBI Investments Inc. lessened its holdings in shares of International Paper (NYSE:IPFree Report) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,354 shares of the basic materials company’s stock after selling 6,438 shares during the quarter. WBI Investments Inc.’s holdings in International Paper were worth $2,779,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of International Paper in the 4th quarter valued at about $83,530,000. BlackRock Inc. raised its stake in shares of International Paper by 4.0% in the 1st quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock valued at $1,331,687,000 after purchasing an additional 1,436,757 shares during the period. Barclays PLC raised its stake in shares of International Paper by 310.8% in the 2nd quarter. Barclays PLC now owns 1,451,344 shares of the basic materials company’s stock valued at $46,167,000 after purchasing an additional 1,098,032 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after purchasing an additional 1,011,315 shares during the period. Finally, Cowa LLC raised its stake in shares of International Paper by 13,649.1% in the 1st quarter. Cowa LLC now owns 1,002,172 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 994,883 shares during the period. Institutional investors and hedge funds own 80.78% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $35.35 on Monday. The business’s 50 day moving average price is $36.44 and its two-hundred day moving average price is $35.17. The company has a market cap of $12.23 billion, a PE ratio of 43.00 and a beta of 0.99. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a twelve month low of $29.00 and a twelve month high of $39.46.

International Paper (NYSE:IPGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. On average, analysts predict that International Paper will post 1.92 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 22nd will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Wednesday, February 21st. International Paper’s payout ratio is 225.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on IP shares. Truist Financial dropped their price target on International Paper from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Wells Fargo & Company dropped their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Finally, Jefferies Financial Group dropped their target price on International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.00.

Check Out Our Latest Stock Report on International Paper

International Paper Company Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

See Also

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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