Altrius Capital Management Inc Cuts Stock Holdings in International Paper (NYSE:IP)

Altrius Capital Management Inc cut its position in shares of International Paper (NYSE:IP) by 27.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 77,221 shares of the basic materials company’s stock after selling 28,836 shares during the quarter. Altrius Capital Management Inc’s holdings in International Paper were worth $4,156,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after acquiring an additional 7,424 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of International Paper during the 3rd quarter valued at approximately $24,327,000. Aptus Capital Advisors LLC grew its stake in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 785 shares during the period. Wedmont Private Capital purchased a new stake in International Paper in the 4th quarter worth $376,000. Finally, Curi RMB Capital LLC acquired a new position in shares of International Paper during the 3rd quarter worth about $4,870,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.0 %

Shares of IP opened at $56.28 on Friday. The company’s 50-day moving average price is $55.67 and its 200 day moving average price is $52.93. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.55 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last posted its earnings results 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 net margin of 2.99% and a return on equity of 4.75%. On average, sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analysts Forecast Growth

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

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.