International Paper (NYSE:IP) Shares Sold by Aviva PLC

Aviva PLC cut its holdings in shares of International Paper (NYSE:IP) by 49.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 394,245 shares of the basic materials company’s stock after selling 392,717 shares during the quarter. Aviva PLC’s holdings in International Paper were worth $21,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Sierra Ocean LLC acquired a new stake in shares of International Paper during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in International Paper during the fourth quarter worth about $26,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter worth about $28,000. Picton Mahoney Asset Management lifted its stake in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IP has been the topic of several research reports. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Down 2.7 %

Shares of NYSE IP opened at $46.70 on Tuesday. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 0.39 and a beta of 0.99. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock’s 50-day simple moving average is $53.93 and its 200-day simple moving average is $53.83.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.96%. International Paper’s dividend payout ratio (DPR) is 117.83%.

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.