Farringdon Capital Ltd. Takes $735,000 Position in International Paper (NYSE:IP)

Farringdon Capital Ltd. bought a new position in shares of International Paper (NYSE:IP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,664 shares of the basic materials company's stock, valued at approximately $735,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IP. FMR LLC grew its stake in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares in the last quarter. Norges Bank acquired a new position in shares of International Paper during the fourth quarter worth about $109,201,000. Artemis Investment Management LLP lifted its stake in International Paper by 147.2% in 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 during the last quarter. Marshall Wace LLP purchased a new stake in shares of International Paper during the 4th quarter worth $34,974,000. Finally, Clearbridge Investments LLC raised its stake in International Paper by 645.6% in the fourth quarter. Clearbridge Investments LLC now owns 577,453 shares of the basic materials company's stock valued at $31,079,000 after buying an additional 500,001 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Up 2.4 %

Shares of IP stock traded up $1.08 on Tuesday, hitting $46.14. The stock had a trading volume of 890,966 shares, compared to its average volume of 8,745,814. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock's 50 day moving average is $51.71 and its 200-day moving average is $53.62. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 0.39 and a beta of 0.99. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its earnings results 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%. As a group, research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 4.01%. International Paper's payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IP. Wells Fargo & Company cut their target price on 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. Truist Financial reissued a "buy" rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, 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.