Gulf International Bank UK Ltd Sells 234 Shares of International Paper (NYSE:IP)

Gulf International Bank UK Ltd lowered its position in International Paper (NYSE:IP) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,793 shares of the basic materials company’s stock after selling 234 shares during the period. Gulf International Bank UK Ltd’s holdings in International Paper were worth $1,388,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IP. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of International Paper by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 129,300 shares of the basic materials company’s stock valued at $6,959,000 after purchasing an additional 2,800 shares during the last quarter. New York Life Investment Management LLC raised its position in International Paper by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 47,077 shares of the basic materials company’s stock worth $2,534,000 after purchasing an additional 341 shares during the period. Simmons Bank purchased a new stake in International Paper in the 4th quarter worth about $201,000. Checchi Capital Advisers LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $220,000. Finally, Amalgamated Bank increased its position in shares of International Paper by 0.4% during the fourth quarter. Amalgamated Bank now owns 68,505 shares of the basic materials company’s stock worth $3,687,000 after acquiring an additional 301 shares during the period. Institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

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

International Paper Stock Performance

Shares of IP stock opened at $56.34 on Friday. The firm has a market cap of $29.64 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 0.39 and a beta of 1.02. The company’s 50 day moving average is $55.71 and its 200 day moving average is $53.07. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $33.16 and a 52-week 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 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, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.28%. International Paper’s dividend payout ratio (DPR) is 117.83%.

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.