International Paper (NYSE:IP) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of International Paper (NYSE:IP) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

IP has been the topic of several other reports. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup initiated coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.32.

International Paper Stock Down 2.5 %

Shares of International Paper stock opened at $53.23 on Friday. The company has a market cap of $28.01 billion, a P/E ratio of 33.90, a PEG ratio of 0.39 and a beta of 1.02. The firm has a fifty day moving average of $54.86 and a two-hundred day moving average of $53.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a one year low of $33.16 and a one year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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, analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after buying an additional 12,191,361 shares during the last quarter. FMR LLC grew its holdings in International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of International Paper by 134.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock valued at $212,522,000 after purchasing an additional 2,266,762 shares in the last quarter. Finally, Norges Bank bought a new position in shares of International Paper during the fourth quarter worth about $109,201,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.