Sentry Investment Management LLC Trims Position in International Paper (NYSE:IP)

Sentry Investment Management LLC lowered its stake in shares of International Paper (NYSE:IP) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,385 shares of the basic materials company’s stock after selling 225 shares during the quarter. Sentry Investment Management LLC’s holdings in International Paper were worth $75,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in International Paper by 14.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 17,831 shares of the basic materials company’s stock worth $871,000 after buying an additional 2,218 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of International Paper by 38.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,437 shares of the basic materials company’s stock worth $1,591,000 after acquiring an additional 9,016 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in International Paper by 17.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 131,591 shares of the basic materials company’s stock worth $6,411,000 after purchasing an additional 19,954 shares in the last quarter. abrdn plc lifted its position in International Paper by 20.7% in the third quarter. abrdn plc now owns 81,156 shares of the basic materials company’s stock valued at $3,970,000 after purchasing an additional 13,898 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in International Paper by 4.5% in the 3rd quarter. New York State Teachers Retirement System now owns 308,642 shares of the basic materials company’s stock valued at $15,077,000 after purchasing an additional 13,395 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

IP has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Finally, Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. One equities 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.88.

International Paper Trading Up 1.0 %

Shares of IP stock opened at $56.28 on Friday. The stock has a market cap of $19.55 billion, a P/E ratio of 35.85, 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 fifty-two week low of $33.16 and a fifty-two week high of $60.36. The business has a fifty day simple moving average of $55.67 and a 200-day simple moving average of $52.93.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. International Paper’s dividend payout ratio is currently 117.83%.

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.