Jacobi Capital Management LLC Sells 313 Shares of International Paper (NYSE:IP)

Jacobi Capital Management LLC cut its holdings in International Paper (NYSE:IP) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,587 shares of the basic materials company’s stock after selling 313 shares during the period. Jacobi Capital Management LLC’s holdings in International Paper were worth $1,592,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of International Paper in the 3rd quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper in the 4th quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $28,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of International Paper in the 3rd quarter worth about $28,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

International Paper stock opened at $56.34 on Friday. The stock has a market cap of $29.64 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth 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. The firm has a 50-day moving average of $55.71 and a two-hundred day moving average of $53.07.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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, research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.28%. International Paper’s dividend payout ratio is currently 117.83%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IP shares. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.88.

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.