Financial Counselors Inc. Has $5.32 Million Stock Position in International Paper (NYSE:IP)

Financial Counselors Inc. cut its stake in shares of International Paper (NYSE:IP) by 2.2% in the fourth quarter, Holdings Channel reports. The firm owned 98,769 shares of the basic materials company’s stock after selling 2,180 shares during the quarter. Financial Counselors Inc.’s holdings in International Paper were worth $5,316,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of International Paper during the third quarter worth $25,000. Sierra Ocean LLC bought a new position in International Paper during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the fourth quarter valued at about $26,000. Legacy Investment Solutions LLC bought a new stake in shares of International Paper in the third quarter worth about $28,000. Finally, Picton Mahoney Asset Management raised its position in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 1.1 %

International Paper stock opened at $55.65 on Thursday. The company has a market cap of $29.28 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 0.39 and a beta of 1.02. The firm has a 50-day moving average of $54.96 and a 200-day moving average of $53.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a one year low of $33.16 and a one year high of $60.36.

International Paper (NYSE:IP) last issued 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 analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. International Paper’s dividend payout ratio is presently 117.83%.

Analyst Ratings Changes

Several equities analysts recently issued reports on IP shares. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. StockNews.com raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. 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. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Finally, Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.