International Paper (NYSE:IP) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its holdings in shares of International Paper (NYSE:IP - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 278,100 shares of the basic materials company's stock after acquiring an additional 81,400 shares during the quarter. Canada Pension Plan Investment Board owned 0.08% of International Paper worth $14,967,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Sierra Ocean LLC purchased a new stake in shares of International Paper in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the 4th quarter worth $26,000. Picton Mahoney Asset Management grew its position 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 buying an additional 215 shares in the last quarter. Versant Capital Management Inc increased its stake 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 period. Finally, Venturi Wealth Management LLC increased its stake in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after buying an additional 295 shares during the period. Institutional investors own 81.95% of the company's stock.

International Paper Stock Up 2.0 %

NYSE IP traded up $0.92 during trading on Thursday, hitting $47.67. The company's stock had a trading volume of 2,200,143 shares, compared to its average volume of 8,617,651. International Paper has a fifty-two week low of $33.16 and a fifty-two week 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 cap of $25.16 billion, a PE ratio of 30.36, a P/E/G ratio of 0.39 and a beta of 0.99. The business's 50 day simple moving average is $51.34 and its 200-day simple moving average is $53.53.

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

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 3.88%. International Paper's dividend payout ratio (DPR) is 117.83%.

Wall Street Analysts Forecast Growth

IP has been the topic of several recent research reports. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company dropped their target price on 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. Truist Financial reduced their price target on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research report on Tuesday. StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Paper has a consensus rating of "Moderate Buy" and an average 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.