Amalgamated Bank trimmed its position in shares of International Paper (NYSE:IP – Free Report) by 25.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,767 shares of the basic materials company’s stock after selling 31,608 shares during the period. Amalgamated Bank’s holdings in International Paper were worth $3,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. raised its holdings in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. Delta Asset Management LLC TN bought a new stake in shares of International Paper during the 4th quarter worth approximately $27,000. Resurgent Financial Advisors LLC bought a new position in shares of International Paper during the fourth quarter valued at $27,000. Dupont Capital Management Corp increased its stake in shares of International Paper by 133.4% in the 4th quarter. Dupont Capital Management Corp now owns 803 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 459 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in International Paper by 98.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 822 shares of the basic materials company’s stock worth $30,000 after buying an additional 407 shares in the last quarter. 85.80% of the stock is currently owned by institutional investors.
International Paper Stock Performance
Shares of International Paper stock opened at $35.40 on Friday. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 9.81 and a beta of 1.05. The business has a 50-day simple moving average of $31.53 and a 200 day simple moving average of $34.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.55 and a quick ratio of 1.10. International Paper has a one year low of $29.00 and a one year high of $45.17.
International Paper Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Monday, August 14th. International Paper’s payout ratio is 51.25%.
Analyst Ratings Changes
Several analysts have weighed in on IP shares. Bank of America cut International Paper from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $35.00 to $33.00 in a research report on Monday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price on International Paper from $31.00 to $27.00 in a research note on Monday, May 1st. 58.com reaffirmed a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. UBS Group cut their target price on shares of International Paper from $33.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, July 19th. Finally, Truist Financial decreased their price objective on shares of International Paper from $38.00 to $29.00 and set a “hold” rating for the company in a research note on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has an average rating of “Hold” and an average target price of $35.09.
Insider Buying and Selling at International Paper
In related news, SVP Allison B. Magness sold 3,300 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $31.75, for a total transaction of $104,775.00. Following the sale, the senior vice president now owns 21,055 shares of the company’s stock, valued at $668,496.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.51% of the company’s stock.
International Paper Company Profile
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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