Adage Capital Partners GP L.L.C. Acquires 1,019,061 Shares of International Paper (NYSE:IP)

Adage Capital Partners GP L.L.C. lifted its holdings in shares of International Paper (NYSE:IP - Free Report) by 383.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,284,535 shares of the basic materials company's stock after acquiring an additional 1,019,061 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.37% of International Paper worth $69,134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sierra Ocean LLC purchased a new stake in International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper in the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management lifted its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Versant Capital Management Inc increased its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Down 0.4 %

Shares of International Paper stock traded down $0.21 during midday trading on Friday, reaching $47.42. 2,156,745 shares of the company's stock traded hands, compared to its average volume of 8,534,818. The company has a market cap of $25.03 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The stock has a 50 day moving average of $50.97 and a 200-day moving average of $53.57. International Paper has a 12 month low of $33.28 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results 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 net margin of 2.99% and a return on equity of 4.75%. As a group, equities analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Truist Financial reduced their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.77.

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.