CENTRAL TRUST Co Has $1.18 Million Stock Position in International Paper (NYSE:IP)

CENTRAL TRUST Co lowered its stake in International Paper (NYSE:IP) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,917 shares of the basic materials company’s stock after selling 1,045 shares during the period. CENTRAL TRUST Co’s holdings in International Paper were worth $1,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of International Paper in the third quarter worth approximately $84,526,000. Finally, Artemis Investment Management LLP boosted its stake in shares of International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after purchasing an additional 1,202,632 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IP. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. Truist Financial restated a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction 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 trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.3 %

International Paper stock opened at $55.80 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 35.54 and a beta of 1.03. The firm’s fifty day moving average price is $56.06 and its two-hundred day moving average price is $51.71.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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 research analysts predict that International Paper will post 3.01 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is presently 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.