Canada Post Corp Registered Pension Plan Acquires New Position in International Paper (NYSE:IP)

Canada Post Corp Registered Pension Plan purchased a new position 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 firm purchased 6,188 shares of the basic materials company's stock, valued at approximately $333,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of International Paper by 4.5% during the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company's stock valued at $44,774,000 after acquiring an additional 39,404 shares during the period. Bard Financial Services Inc. acquired a new stake in shares of International Paper in the third quarter valued at approximately $305,000. World Investment Advisors LLC raised its holdings in shares of International Paper by 6.1% during the 3rd quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company's stock worth $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 worth about $614,000. Finally, Oddo BHF Asset Management Sas acquired a new position in International Paper in the third quarter valued at approximately $895,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on IP. Truist Financial reaffirmed a "buy" rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a "neutral" rating on the stock. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Finally, Wells Fargo & Company lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $55.32.

International Paper Price Performance

Shares of NYSE:IP traded up $1.26 during trading on Tuesday, hitting $46.32. 570,386 shares of the stock were exchanged, compared to its average volume of 8,741,111. The company has a fifty day moving average price of $51.71 and a two-hundred day moving average price of $53.62. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market cap of $24.45 billion, a PE ratio of 29.50, a P/E/G ratio of 0.39 and a beta of 0.99. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's payout ratio is 117.83%.

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.