OneAscent Wealth Management LLC Reduces Holdings in International Paper (NYSE:IP)

OneAscent Wealth Management LLC lowered its position in International Paper (NYSE:IP) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,897 shares of the basic materials company’s stock after selling 774 shares during the quarter. OneAscent Wealth Management LLC’s holdings in International Paper were worth $210,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 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 worth $145,106,000 after buying an additional 2,484,386 shares during the last quarter. Norges Bank bought a new stake in shares of International Paper in the 4th quarter worth about $109,201,000. Artemis Investment Management LLP raised 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 in the last quarter. Hill City Capital LP grew its stake in International Paper by 287.5% in the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock worth $75,718,000 after purchasing an additional 1,150,000 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in International Paper in the third quarter valued at about $24,327,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of NYSE IP opened at $53.23 on Friday. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a market cap of $28.01 billion, a PE ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. The stock has a 50 day simple moving average of $54.86 and a 200-day simple moving average of $53.71. 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 results 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 return on equity of 4.75% and a net margin of 2.99%. On average, equities research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IP shares. JPMorgan Chase & Co. started coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Wednesday. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Truist Financial restated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Company 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.