Edgestream Partners L.P. Sells 106,521 Shares of International Paper (NYSE:IP)

Edgestream Partners L.P. reduced its position in shares of International Paper (NYSE:IP) by 88.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,543 shares of the basic materials company’s stock after selling 106,521 shares during the period. Edgestream Partners L.P.’s holdings in International Paper were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Inceptionr LLC grew its holdings in International Paper by 76.0% during the 4th quarter. Inceptionr LLC now owns 15,684 shares of the basic materials company’s stock worth $844,000 after acquiring an additional 6,772 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of International Paper during the fourth quarter valued at $21,307,000. Arizona State Retirement System grew its stake in shares of International Paper by 1.4% in the fourth quarter. Arizona State Retirement System now owns 95,851 shares of the basic materials company’s stock worth $5,159,000 after purchasing an additional 1,316 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of International Paper in the fourth quarter worth $9,063,000. Finally, SPC Financial Inc. raised its position in International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after purchasing an additional 200 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on IP. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price 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’s stock. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Trading Down 1.1 %

IP opened at $49.36 on Wednesday. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The company has a market cap of $25.97 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a fifty day moving average price of $55.33 and a two-hundred day moving average price of $53.32. 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 (NYSE:IP) last released its quarterly earnings data 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%. Analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is currently 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.