Alpine Global Management LLC Purchases Shares of 9,310 International Paper (NYSE:IP)

Alpine Global Management LLC bought a new stake in shares of International Paper (NYSE:IP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,310 shares of the basic materials company's stock, valued at approximately $501,000.

Several other large investors also recently modified their holdings of IP. Barclays PLC lifted its holdings in International Paper by 4.5% during the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company's stock worth $44,774,000 after purchasing an additional 39,404 shares in the last quarter. Bard Financial Services Inc. purchased a new stake in shares of International Paper in the third quarter worth about $305,000. World Investment Advisors LLC boosted its position in shares of International Paper by 6.1% in the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company's stock valued at $449,000 after acquiring an additional 529 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in International Paper during the third quarter valued at approximately $614,000. Finally, Oddo BHF Asset Management Sas purchased a new position in International Paper during the third quarter valued at approximately $895,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Price Performance

NYSE:IP opened at $47.67 on Friday. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business has a 50 day simple moving average of $51.17 and a 200-day simple moving average of $53.53. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. Equities analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.88%. International Paper's dividend payout ratio is currently 117.83%.

Wall Street Analysts Forecast Growth

IP has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. Finally, Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper presently 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.