Greenleaf Trust Has $485,000 Holdings in International Paper (NYSE:IP)

Greenleaf Trust boosted its position in International Paper (NYSE:IP) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,020 shares of the basic materials company’s stock after purchasing an additional 568 shares during the quarter. Greenleaf Trust’s holdings in International Paper were worth $485,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 177 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of 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 buying an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of International Paper by 14.7% in 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 buying an additional 205 shares during the period. Empirical Finance LLC increased its stake in shares of International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after buying an additional 224 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in shares of International Paper by 5.7% in the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock valued at $284,000 after buying an additional 314 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of analyst reports. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. 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 note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.88.

International Paper Stock Down 3.6 %

IP stock opened at $53.81 on Wednesday. The stock’s 50 day simple moving average is $55.98 and its 200 day simple moving average is $51.78. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The company has a market cap of $18.69 billion, a P/E ratio of 34.27 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. On average, research analysts expect that International Paper will post 3.01 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.44%. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

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.