International Paper (NYSE:IP) Position Increased by Capital Research Global Investors

Capital Research Global Investors grew its stake in shares of International Paper (NYSE:IP - Free Report) by 68.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,904,546 shares of the basic materials company's stock after acquiring an additional 12,191,361 shares during the period. Capital Research Global Investors owned about 8.61% of International Paper worth $1,609,462,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper during the fourth quarter worth $26,000. Picton Mahoney Asset Management boosted its holdings 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 buying an additional 215 shares during the period. Versant Capital Management Inc lifted its holdings in shares of 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 during the last quarter. Finally, Venturi Wealth Management LLC grew its stake 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 last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Price Performance

Shares of NYSE IP traded up $1.09 during midday trading on Thursday, reaching $47.84. The company's stock had a trading volume of 1,152,765 shares, compared to its average volume of 8,603,117. International Paper has a one year low of $33.16 and a one year high of $60.36. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The company has a 50 day moving average price of $51.34 and a 200 day moving average price of $53.53. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.87%. International Paper's dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Wells Fargo & Company decreased their target price 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. Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Truist Financial decreased their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. One equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $54.77.

International Paper 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.