CANADA LIFE ASSURANCE Co Buys 25,037 Shares of International Paper (NYSE:IP)

CANADA LIFE ASSURANCE Co lifted its stake in shares of International Paper (NYSE:IP - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 403,824 shares of the basic materials company's stock after acquiring an additional 25,037 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.12% of International Paper worth $21,715,000 at the end of the most recent reporting period.

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

International Paper Stock Performance

Shares of IP stock traded up $0.92 during trading on Thursday, reaching $47.67. The company had a trading volume of 2,199,070 shares, compared to its average volume of 8,617,638. The firm's 50 day simple moving average is $51.34 and its two-hundred day simple moving average is $53.53. International Paper has a one year low of $33.16 and a one year high of $60.36. 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 company has a market capitalization of $25.16 billion, a PE ratio of 30.36, a PEG ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last released its quarterly 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%. Sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on IP shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. Finally, Truist Financial lowered their target price on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.