Investors Buy International Paper (IP) on Weakness
Investors bought shares of International Paper Co (NYSE:IP) on weakness during trading on Friday. $180.12 million flowed into the stock on the tick-up and $58.21 million flowed out of the stock on the tick-down, for a money net flow of $121.91 million into the stock. Of all equities tracked, International Paper had the 24th highest net in-flow for the day. International Paper traded down ($1.45) for the day and closed at $45.51
Several equities research analysts recently weighed in on IP shares. Wells Fargo & Co downgraded shares of International Paper from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 9th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Wednesday, December 19th. Deutsche Bank cut their target price on shares of International Paper from $55.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, January 17th. Royal Bank of Canada upped their target price on shares of International Paper to $54.00 and gave the stock an “outperform” rating in a research note on Friday, February 1st. Finally, Citigroup reaffirmed a “buy” rating and set a $53.00 target price on shares of International Paper in a research note on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and an average target price of $54.58.
The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.01 and a current ratio of 1.49. The firm has a market capitalization of $18.21 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.95 and a beta of 1.57.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Wednesday, February 20th. International Paper’s dividend payout ratio (DPR) is presently 37.59%.
In other news, insider Timothy S. Nicholls sold 45,000 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $46.67, for a total value of $2,100,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John V. Sims sold 12,667 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $45.96, for a total transaction of $582,175.32. The disclosure for this sale can be found here. Insiders have sold a total of 85,760 shares of company stock valued at $4,016,587 in the last quarter. 0.32% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Belpointe Asset Management LLC boosted its stake in International Paper by 225.7% during the 4th quarter. Belpointe Asset Management LLC now owns 11,276 shares of the basic materials company’s stock worth $455,000 after purchasing an additional 7,814 shares during the period. Norges Bank acquired a new stake in International Paper during the 4th quarter worth $158,215,000. Actinver Wealth Management Inc. acquired a new stake in International Paper during the 4th quarter worth $265,000. Teacher Retirement System of Texas boosted its stake in International Paper by 655.0% during the 4th quarter. Teacher Retirement System of Texas now owns 349,698 shares of the basic materials company’s stock worth $14,114,000 after purchasing an additional 303,379 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in International Paper by 3.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 39,975 shares of the basic materials company’s stock worth $1,613,000 after purchasing an additional 1,511 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Investors Buy International Paper (IP) on Weakness” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.watchlistnews.com/investors-buy-international-paper-ip-on-weakness/2897332.html.
About International Paper (NYSE:IP)
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.
Recommended Story: What is Depreciation?
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.