Everence Capital Management Inc. Makes New Investment in International Paper (NYSE:IP)

Everence Capital Management Inc. purchased a new stake in International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,390 shares of the basic materials company's stock, valued at approximately $828,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its stake in International Paper by 71.6% in the fourth quarter. GAMMA Investing LLC now owns 5,098 shares of the basic materials company's stock valued at $274,000 after purchasing an additional 2,127 shares in the last quarter. Versant Capital Management Inc lifted its holdings in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after acquiring an additional 448 shares in the last quarter. Principal Financial Group Inc. grew its stake in International Paper by 2.6% in the third quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company's stock valued at $20,412,000 after acquiring an additional 10,632 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of International Paper in the third quarter worth about $24,327,000. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of International Paper during the third quarter worth about $895,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Down 0.6 %

IP traded down $0.31 during trading hours on Friday, hitting $52.85. 3,017,788 shares of the company's stock were exchanged, compared to its average volume of 3,259,644. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 45.17 and a beta of 1.02. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The stock's 50-day moving average is $55.94 and its two-hundred day moving average is $49.97. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Sell-side analysts predict that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.50%. International Paper's payout ratio is 158.12%.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now owns 38,345 shares of the company's stock, valued at $2,051,457.50. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 2,400 shares of company stock valued at $129,696. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IP shares. Truist Financial reiterated a "buy" rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research report on Friday, November 1st. BNP Paribas lowered shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued 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, International Paper presently has a consensus rating of "Moderate Buy" and an average target price of $51.54.

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.