Colrain Capital LLC Makes New $4.35 Million Investment in International Paper (NYSE:IP)

Colrain Capital LLC acquired a new stake in International Paper (NYSE:IP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,750 shares of the basic materials company's stock, valued at approximately $4,346,000. International Paper accounts for about 4.3% of Colrain Capital LLC's investment portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of IP. Cerity Partners LLC boosted its position in shares of International Paper by 7.3% in the third quarter. Cerity Partners LLC now owns 38,050 shares of the basic materials company's stock valued at $1,859,000 after acquiring an additional 2,588 shares during the period. Brooklyn Investment Group bought a new stake in International Paper in the 3rd quarter valued at about $25,000. Townsquare Capital LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $336,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Paper by 2.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company's stock worth $97,686,000 after purchasing an additional 42,151 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of International Paper by 2.9% in the third quarter. Hantz Financial Services Inc. now owns 67,687 shares of the basic materials company's stock valued at $3,307,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

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International Paper Trading Down 5.0 %

IP traded down $2.47 during midday trading on Friday, hitting $46.71. 3,758,766 shares of the company were exchanged, compared to its average volume of 9,408,886. The firm's 50 day moving average price is $54.43 and its 200-day moving average price is $53.80. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The firm has a market capitalization of $24.58 billion, a P/E ratio of 29.75, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last posted 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 return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts forecast 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 issued a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.96%. International Paper's payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IP. Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Truist Financial reissued a "buy" rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They set a "neutral" rating for the company. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.32.

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.