Arvest Bank Trust Division Purchases New Position in International Paper (NYSE:IP)

Arvest Bank Trust Division bought a new stake in International Paper (NYSE:IP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,004 shares of the basic materials company's stock, valued at approximately $2,261,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. FMR LLC increased its stake in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after buying an additional 8,720,575 shares during the period. Geode Capital Management LLC raised its holdings in International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock valued at $450,586,000 after buying an additional 24,816 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in International Paper by 2.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,685 shares of the basic materials company's stock worth $181,410,000 after acquiring an additional 74,759 shares during the last quarter. Finally, Norges Bank bought a new position in shares of International Paper during the fourth quarter valued at $109,201,000. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Up 3.4 %

Shares of NYSE:IP traded up $1.51 on Tuesday, hitting $46.57. The company had a trading volume of 1,060,785 shares, compared to its average volume of 8,748,169. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm's 50-day simple moving average is $51.71 and its two-hundred day simple moving average is $53.62. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 0.39 and a beta of 0.99.

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

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.97%. International Paper's payout ratio is 117.83%.

Analyst Ratings Changes

Several brokerages recently commented on IP. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. Wells Fargo & Company decreased their price objective on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Truist Financial decreased their price target on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday. Finally, StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.77.

About International Paper

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.