Tribune Investment Group LP Makes New Investment in International Paper (NYSE:IP)

Tribune Investment Group LP bought a new stake in International Paper (NYSE:IP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 190,000 shares of the basic materials company's stock, valued at approximately $10,226,000. International Paper comprises 5.7% of Tribune Investment Group LP's portfolio, making the stock its 3rd largest position. Tribune Investment Group LP owned 0.05% of International Paper at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the 4th quarter valued at about $26,000. Picton Mahoney Asset Management raised its position in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after purchasing an additional 215 shares during the period. Versant Capital Management Inc grew its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after buying an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on IP. Wells Fargo & Company lowered their target price on International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial reaffirmed a "buy" rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective on the stock. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper currently has an average rating of "Moderate Buy" and an average price target of $55.32.

International Paper Stock Up 0.0 %

Shares of NYSE:IP traded up $0.02 on Friday, reaching $46.32. The company had a trading volume of 3,511,121 shares, compared to its average volume of 8,946,266. The firm has a market capitalization of $24.45 billion, a PE ratio of 29.50, a PEG ratio of 0.39 and a beta of 0.99. 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 firm's 50 day simple moving average is $52.09 and its 200-day simple moving average is $53.59. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.99%. International Paper's dividend payout ratio (DPR) is currently 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.