Royal Bank of Canada Trims Stake in International Paper (NYSE:IP)

Royal Bank of Canada lowered its stake in International Paper (NYSE:IP) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,611,583 shares of the basic materials company’s stock after selling 7,038 shares during the quarter. Royal Bank of Canada’s holdings in International Paper were worth $248,196,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SPC Financial Inc. lifted its stake in shares of International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after purchasing an additional 200 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 204 shares during the period. Inspire Advisors LLC lifted its stake in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 204 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC lifted 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 purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.1%

Shares of NYSE IP opened at $50.14 on Friday. International Paper has a 12-month low of $40.39 and a 12-month high of $60.36. The company has a market cap of $26.47 billion, a P/E ratio of 31.94, a P/E/G ratio of 0.39 and a beta of 1.03. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $48.72 and a 200 day moving average price of $53.43.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the prior year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Research analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.69%. International Paper’s dividend payout ratio is presently 158.12%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IP. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. StockNews.com downgraded International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, Truist Financial dropped their price objective on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.21.

Insider Activity

In other news, CAO Holly G. Goughnour sold 7,500 shares of the firm’s 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 trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

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.