Intech Investment Management LLC Buys Shares of 5,802 International Paper (NYSE:IP)

Intech Investment Management LLC bought a new stake in shares of International Paper (NYSE:IPFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,802 shares of the basic materials company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC bought a new stake in International Paper during the 3rd quarter valued at $25,000. CVA Family Office LLC bought a new stake in International Paper during the 4th quarter valued at $27,000. Assetmark Inc. increased its holdings in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 649 shares during the period. Princeton Global Asset Management LLC purchased a new position in shares of International Paper in the 4th quarter valued at $36,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 295 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Stock Up 1.1 %

Shares of IP stock opened at $45.09 on Friday. International Paper has a 1-year low of $29.00 and a 1-year high of $46.10. The stock’s fifty day moving average price is $38.82 and its 200 day moving average price is $36.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 92.02 and a beta of 1.01.

International Paper (NYSE:IPGet Free Report) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, research analysts expect that International Paper will post 1.92 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.10%. International Paper’s payout ratio is presently 377.55%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of analyst reports. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial lifted their price target on International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a report on Thursday. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Wells Fargo & Company lifted their price target on International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.71.

Get Our Latest Report on International Paper

International Paper Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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