International Paper (NYSE:IP) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its position in shares of International Paper (NYSE:IP) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,385 shares of the basic materials company’s stock after selling 225 shares during the period. Sentry Investment Management LLC’s holdings in International Paper were worth $75,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IP. Brooklyn Investment Group acquired a new stake in International Paper during the 3rd quarter worth approximately $25,000. Sierra Ocean LLC acquired a new position in International Paper during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper during the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the third quarter worth $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter valued at $28,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $56.28 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The business has a 50 day moving average price of $55.67 and a two-hundred day moving average price of $52.93. The firm has a market cap of $19.55 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. Sell-side analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

Wall Street Analysts Forecast Growth

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