Allspring Global Investments Holdings LLC Has $46.69 Million Stake in International Paper (NYSE:IP)

Allspring Global Investments Holdings LLC lifted its position in International Paper (NYSE:IP) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 878,221 shares of the basic materials company’s stock after purchasing an additional 15,904 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Paper were worth $46,686,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of International Paper during the third quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper during the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper during the third quarter valued at $28,000. Versant Capital Management Inc lifted its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the period. Finally, City State Bank lifted its holdings in shares of International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IP shares. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Bank of America started coverage on International Paper in a report on Thursday. They issued a “neutral” rating for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $55.59 on Friday. The stock has a 50-day moving average price of $55.48 and a 200 day moving average price of $52.17. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 35.41 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month 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 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%. Research analysts expect that International Paper will post 2.89 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. 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 3.33%. International Paper’s payout ratio is 117.84%.

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.