Clearbridge Investments LLC Buys 500,001 Shares of International Paper (NYSE:IP)

Clearbridge Investments LLC raised its stake in International Paper (NYSE:IP - Free Report) by 645.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 577,453 shares of the basic materials company's stock after acquiring an additional 500,001 shares during the period. Clearbridge Investments LLC owned approximately 0.17% of International Paper worth $31,079,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IP. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company's stock worth $407,463,000 after buying an additional 99,720 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock valued at $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Norges Bank bought a new position in International Paper in the fourth quarter valued at about $109,201,000. Finally, Artemis Investment Management LLP raised its stake in International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock worth $108,706,000 after acquiring an additional 1,202,632 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

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International Paper Trading Down 2.6 %

IP stock traded down $1.29 during trading on Friday, hitting $47.89. The company had a trading volume of 8,125,261 shares, compared to its average volume of 9,480,998. 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 has a one year low of $33.16 and a one year high of $60.36. The business has a 50-day moving average of $54.18 and a 200-day moving average of $53.82. The stock has a market cap of $25.20 billion, a PE ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data 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%. Research analysts predict 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. Investors of record on Monday, February 24th were given 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 3.86%. International Paper's payout ratio is 117.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IP. Truist Financial reaffirmed a "buy" rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. 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 price target for the company. Royal Bank of Canada restated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.32.

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.