International Paper (NYSE:IP) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its holdings in International Paper (NYSE:IP) by 175.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 93,870 shares of the basic materials company’s stock after purchasing an additional 59,843 shares during the quarter. Truist Financial Corp’s holdings in International Paper were worth $5,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its position in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares during the period. Point72 Asset Management L.P. lifted its position in International Paper by 511.1% during 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 acquiring an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the period. Ceredex Value Advisors LLC purchased a new position in International Paper in the 3rd quarter worth approximately $84,526,000. Finally, Artemis Investment Management LLP grew its position in International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after acquiring an additional 1,202,632 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

International Paper Stock Performance

Shares of IP stock opened at $55.62 on Monday. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a one year low of $33.16 and a one year high of $60.36. The company’s 50-day simple moving average is $55.59 and its 200-day simple moving average is $52.74. 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 (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm 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 $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is presently 117.84%.

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.