International Paper (NYSE:IP) Stake Lowered by WINTON GROUP Ltd

WINTON GROUP Ltd decreased its holdings in shares of International Paper (NYSE:IP) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 328,568 shares of the basic materials company’s stock after selling 61,640 shares during the quarter. International Paper makes up approximately 1.2% of WINTON GROUP Ltd’s portfolio, making the stock its 8th biggest position. WINTON GROUP Ltd’s holdings in International Paper were worth $17,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in shares of International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in International Paper in the third quarter valued at approximately $24,327,000. Wedmont Private Capital acquired a new stake in shares of International Paper in the fourth quarter valued at approximately $376,000. Everence Capital Management Inc. purchased a new position in shares of International Paper during the fourth quarter worth approximately $828,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IP. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Bank of America began coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. One equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Trading Down 1.1 %

Shares of IP stock opened at $55.65 on Thursday. The business’s fifty day moving average price is $54.96 and its 200 day moving average price is $53.62. The firm has a market capitalization of $29.28 billion, a PE ratio of 35.45, a P/E/G ratio of 0.39 and a beta of 1.02. 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 1-year low of $33.16 and a 1-year 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) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, sell-side analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 3.32%. International Paper’s payout ratio is 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.