Del Sette Capital Management LLC Reduces Stake in International Paper (NYSE:IP)

Del Sette Capital Management LLC trimmed its position in shares of International Paper (NYSE:IP) by 11.8% during the fourth quarter, Holdings Channel reports. The firm owned 37,222 shares of the basic materials company’s stock after selling 4,974 shares during the quarter. International Paper comprises approximately 1.6% of Del Sette Capital Management LLC’s holdings, making the stock its 23rd biggest position. Del Sette Capital Management LLC’s holdings in International Paper were worth $2,003,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IP. FMR LLC grew its position in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Geode Capital Management LLC grew its holdings in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after buying an additional 9,774 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after buying an additional 537,825 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 1.9 %

IP stock opened at $51.29 on Friday. The business has a fifty day simple moving average of $54.96 and a 200-day simple moving average of $53.46. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 32.67, a PEG 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 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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, equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.61%. International Paper’s dividend payout ratio (DPR) is 117.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IP. StockNews.com raised International Paper from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday. They set an “overweight” rating and a $59.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America started coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

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.