Pictet Asset Management Holding SA Decreases Stake in International Paper (NYSE:IP)

Pictet Asset Management Holding SA lowered its position in shares of International Paper (NYSE:IP) by 19.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,282,690 shares of the basic materials company’s stock after selling 318,956 shares during the quarter. Pictet Asset Management Holding SA’s holdings in International Paper were worth $69,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SPC Financial Inc. raised its position 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 worth $759,000 after acquiring an additional 200 shares during the period. AlphaMark Advisors LLC lifted its stake in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 204 shares during the last quarter. Inspire Advisors LLC grew its holdings in International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in International Paper by 14.7% during the fourth 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 increased its position in International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after buying an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $53.23 on Friday. The firm has a market capitalization of $28.01 billion, a P/E ratio of 33.90, 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. The stock’s 50-day simple moving average is $54.86 and its two-hundred day simple moving average is $53.71. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last announced its 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 net margin of 2.99% and a return on equity of 4.75%. As a group, equities analysts anticipate that International Paper will post 2.77 EPS 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 was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. International Paper’s dividend payout ratio is presently 117.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price 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 stock. According to MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $55.32.

About International Paper

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.