Charles Schwab Investment Management Inc. Sells 16,804 Shares of International Paper (NYSE:IP)

Charles Schwab Investment Management Inc. decreased its stake in shares of International Paper (NYSE:IP) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,562,875 shares of the basic materials company’s stock after selling 16,804 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.03% of International Paper worth $191,754,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its holdings in shares of International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of International Paper in the third quarter worth about $24,327,000. Aptus Capital Advisors LLC boosted its stake in International Paper by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after buying an additional 785 shares during the last quarter. Wedmont Private Capital purchased a new position in International Paper during the 4th quarter valued at approximately $376,000. Finally, Curi RMB Capital LLC bought a new stake in International Paper in the 3rd quarter worth approximately $4,870,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup began coverage on shares of International Paper in a report on Wednesday. They issued a “buy” rating and a $60.00 price target for the company. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Stock Performance

Shares of NYSE:IP opened at $51.79 on Friday. 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 company has a market capitalization of $27.25 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The firm’s 50-day moving average is $55.53 and its 200 day moving average is $53.19.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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 predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.57%. International Paper’s dividend payout ratio (DPR) is 117.83%.

International Paper Company 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.