International Paper Co (NYSE:IP) was downgraded by stock analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

IP has been the topic of a number of other reports. Barclays decreased their price objective on International Paper from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, November 2nd. Deutsche Bank reissued a “hold” rating on shares of International Paper in a research report on Wednesday, December 2nd. Wells Fargo raised International Paper to an “overweight” rating in a research report on Wednesday, October 7th. TheStreet lowered International Paper to a “hold” rating in a research report on Wednesday, January 20th. Finally, Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a research report on Monday, January 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $48.55.

International Paper (NYSE:IP) traded up 0.12% during mid-day trading on Monday, hitting $32.91. The stock had a trading volume of 6,764,957 shares. International Paper has a 52-week low of $32.50 and a 52-week high of $57.90. The stock has a market cap of $13.64 billion and a P/E ratio of 15.63. The firm has a 50-day moving average of $36.90 and a 200-day moving average of $41.59.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 15th. Investors of record on Tuesday, February 16th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 5.35%. This is an increase from International Paper’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, February 11th.

A number of institutional investors recently added to or reduced their stakes in IP. KBC Group increased its position in International Paper by 62.3% in the third quarter. KBC Group now owns 420,122 shares of the company’s stock valued at $15,877,000 after buying an additional 161,251 shares in the last quarter. Burke & Herbert Bank & Trust Company bought a new position in International Paper during the fourth quarter valued at about $257,000. Eastern Bank increased its position in International Paper by 45.1% in the fourth quarter. Eastern Bank now owns 42,887 shares of the company’s stock valued at $1,617,000 after buying an additional 13,335 shares in the last quarter. Hollencrest Securities bought a new position in International Paper during the fourth quarter valued at about $539,000. Finally, ICON Advisers increased its position in International Paper by 99.7% in the third quarter. ICON Advisers now owns 114,200 shares of the company’s stock valued at $4,316,000 after buying an additional 57,000 shares in the last quarter.

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging. Industrial Packaging segment’s products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. Printing Papers segment products include uncoated papers, which engage in the business of producing papers for use in copiers, desktop and laser printers and pulp, which manufactures printing, writing and specialty papers, tissue products and filtration products. Consumer Packaging’s coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups, lids, food containers and plates. Its brands include Hammermill, Springhill, Accent, Ballet, Rey, Pol, Everest, Fortress and Carolina.

12 Month Chart for NYSE:IP

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