UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in International Paper (NYSE:IP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in International Paper (NYSE:IP - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,138,114 shares of the basic materials company's stock after purchasing an additional 138,395 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.62% of International Paper worth $115,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new position in International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter worth about $26,000. Picton Mahoney Asset Management boosted its position in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 215 shares during the period. Venturi Wealth Management LLC grew its stake in International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 295 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in International Paper during the 4th quarter worth approximately $37,000. Institutional investors own 81.95% of the company's stock.

International Paper Price Performance

IP stock traded down $0.80 during mid-day trading on Wednesday, hitting $47.76. 3,442,349 shares of the stock were exchanged, compared to its average volume of 7,759,232. The business has a fifty day moving average price of $48.34 and a 200 day moving average price of $53.03. International Paper has a 12 month low of $41.50 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.87%. International Paper's payout ratio is 158.12%.

Analyst Ratings Changes

Several brokerages have commented on IP. Truist Financial cut their price target on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Finally, Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Paper currently has an average rating of "Hold" and an average price target of $53.86.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is owned by corporate insiders.

About International Paper

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.