2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. lowered its holdings in International Paper ( NYSE:IP – Free Report ) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission.
The institutional investor owned 211,197 shares of the basic materials company’s stock after selling 52,985 shares during the period. Envestnet Asset Management Inc.’s holdings in International Paper were worth $11,367,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Sierra Ocean LLC acquired a new stake in International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper during the fourth quarter worth approximately $26,000.
Picton Mahoney Asset Management grew its position in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter.
Versant Capital Management Inc increased its stake in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the period.
Finally, Venturi Wealth Management LLC boosted its stake in shares of International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after buying an additional 295 shares during the period.
Institutional investors and hedge funds own 81.95% of the company’s stock. International Paper Trading Up 0.
0 % Shares of NYSE:IP opened at $46.32 on Friday. International Paper has a 52-week low of $33.
16 and a 52-week high of $60.36. The company has a debt-to-equity ratio of 0.
66, a quick ratio of 1.08 and a current ratio of 1.49.
The company has a market cap of $24.45 billion, a P/E ratio of 29.50, a P/E/G ratio of 0.
39 and a beta of 0.99. The stock’s 50-day moving average is $52.
09 and its 200-day moving average is $53.59. International Paper Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Monday, March 17th.
Shareholders of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date was Monday, February 24th.
This represents a $1.85 annualized dividend and a yield of 3.99%.
International Paper’s dividend payout ratio is 117.83%. Wall Street Analysts Forecast Growth IP has been the topic of a number of recent research reports.
Truist Financial restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st.
Wells Fargo & Company dropped their price objective on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th.
StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Royal Bank of Canada restated an “outperform” rating and set a $64.
00 price target on shares of International Paper in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th.
They issued an “overweight” rating and a $59.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company.
Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.32. View Our Latest Research Report on IP About International Paper ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding IP? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for International Paper ( NYSE:IP – Free Report ). Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter .
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