Ceredex Value Advisors LLC Lowers Stock Position in International Paper (NYSE:IP)

Ceredex Value Advisors LLC reduced its stake in International Paper (NYSE:IP) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,509,210 shares of the basic materials company’s stock after selling 221,111 shares during the period. International Paper makes up approximately 1.6% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Ceredex Value Advisors LLC’s holdings in International Paper were worth $81,226,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Canada Post Corp Registered Pension Plan bought a new position in International Paper in the 4th quarter valued at about $333,000. Tribune Investment Group LP acquired a new stake in shares of International Paper during the 4th quarter worth approximately $10,226,000. CreativeOne Wealth LLC increased its stake in International Paper by 3.8% in the fourth quarter. CreativeOne Wealth LLC now owns 22,590 shares of the basic materials company’s stock valued at $1,216,000 after acquiring an additional 821 shares during the last quarter. Mariner LLC raised its position in International Paper by 17.0% during the fourth quarter. Mariner LLC now owns 78,128 shares of the basic materials company’s stock valued at $4,205,000 after purchasing an additional 11,361 shares in the last quarter. Finally, SageView Advisory Group LLC lifted its stake in International Paper by 21.7% during the fourth quarter. SageView Advisory Group LLC now owns 13,502 shares of the basic materials company’s stock worth $727,000 after purchasing an additional 2,404 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 1.5 %

Shares of NYSE IP opened at $46.87 on Wednesday. The firm has a 50 day moving average price of $52.46 and a two-hundred day moving average price of $53.66. The stock has a market cap of $24.74 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. 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.

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

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.95%. International Paper’s dividend payout ratio (DPR) is 117.83%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IP shares. Truist Financial reiterated a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price 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 research note on Wednesday, March 26th. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Finally, Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average target price of $55.32.

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.