Amalgamated Bank Grows Position in International Paper (NYSE:IP)

Amalgamated Bank grew its stake in shares of International Paper (NYSE:IP) by 0.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,505 shares of the basic materials company’s stock after purchasing an additional 301 shares during the period. Amalgamated Bank’s holdings in International Paper were worth $3,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 177 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after buying an additional 205 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of International Paper by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after buying an additional 212 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in shares of International Paper by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after buying an additional 224 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

International Paper Trading Up 0.2 %

Shares of IP opened at $56.34 on Friday. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a market capitalization of $19.57 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The stock has a fifty day moving average of $55.71 and a two-hundred day moving average of $53.01. 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 released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. As a group, analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.28%. International Paper’s payout ratio is currently 117.83%.

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.