Mutual of America Capital Management LLC Sells 1,158 Shares of International Paper (NYSE:IP)

Mutual of America Capital Management LLC lowered its stake in shares of International Paper (NYSE:IP) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,613 shares of the basic materials company’s stock after selling 1,158 shares during the quarter. Mutual of America Capital Management LLC’s holdings in International Paper were worth $2,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its stake in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 177 shares during the last quarter. AlphaMark Advisors LLC lifted its position in International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after buying an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in 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 worth $86,000 after buying an additional 205 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after acquiring an additional 212 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in shares of International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 224 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research reports. Citigroup started coverage on shares of International Paper in a research note on Wednesday. They issued a “buy” rating and a $60.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. BNP Paribas cut shares of 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. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Trading Up 1.3 %

NYSE IP opened at $52.39 on Friday. The firm has a market capitalization of $27.56 billion, a PE ratio of 33.37, a P/E/G ratio of 0.39 and a beta of 1.02. The stock’s 50 day moving average is $55.49 and its 200 day moving average is $53.23. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. 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 (NYSE:IP) last posted its quarterly earnings data 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 return on equity of 4.75% and a net margin of 2.99%. Research analysts forecast 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 will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 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.