DnB Asset Management AS Has $3.32 Million Stock Position in International Paper (NYSE:IP)

DnB Asset Management AS cut its holdings in International Paper (NYSE:IP) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,655 shares of the basic materials company’s stock after selling 743 shares during the period. DnB Asset Management AS’s holdings in International Paper were worth $3,318,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IP. SPC Financial Inc. grew its stake in International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after purchasing an additional 200 shares in the last quarter. AlphaMark Advisors LLC increased its stake in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 204 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its stake in International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Finally, Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Trading Up 0.4 %

IP opened at $53.40 on Tuesday. The stock has a market capitalization of $28.10 billion, a price-to-earnings ratio of 34.01, a P/E/G 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 twelve month low of $33.16 and a twelve month high of $60.36. The company has a 50-day simple moving average of $54.79 and a 200 day simple moving average of $53.80.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.46%. 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.