Assenagon Asset Management S.A. Sells 615,122 Shares of International Paper (NYSE:IP)

Assenagon Asset Management S.A. lessened its stake in shares of International Paper (NYSE:IPFree Report) by 83.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,900 shares of the basic materials company’s stock after selling 615,122 shares during the quarter. Assenagon Asset Management S.A.’s holdings in International Paper were worth $4,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Desjardins Global Asset Management Inc. raised its stake in International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 211 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of International Paper in the 4th quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its stake in shares of International Paper by 60.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 885 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 333 shares in the last quarter. Finally, Quarry LP boosted its holdings in International Paper by 992.2% in the 2nd quarter. Quarry LP now owns 1,114 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,012 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $35.83 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $36.57 and a 200 day moving average price of $35.06. The company has a market cap of $12.40 billion, a P/E ratio of 48.42 and a beta of 1.03. International Paper has a 12 month low of $29.00 and a 12 month high of $41.89.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 22nd will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.16%. International Paper’s payout ratio is currently 250.00%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IP. Jefferies Financial Group lowered their price objective on International Paper from $33.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, October 18th. Truist Financial boosted their target price on International Paper from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, International Paper presently has an average rating of “Hold” and an average target price of $37.22.

Check Out Our Latest Report on IP

International Paper Company Profile

(Free Report)

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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