Forum Financial Management LP increased its position in shares of International Paper (NYSE:IP - Free Report) by 109.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,429 shares of the basic materials company's stock after acquiring an additional 5,965 shares during the period. Forum Financial Management LP's holdings in International Paper were worth $615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in shares of International Paper during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the 4th quarter worth approximately $26,000. Picton Mahoney Asset Management raised 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 purchasing an additional 215 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of International Paper by 313.3% during 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 increased its holdings in International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after buying an additional 295 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
International Paper Stock Performance
IP stock traded up $0.92 on Thursday, hitting $47.67. The company's stock had a trading volume of 2,199,070 shares, compared to its average volume of 8,617,638. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The firm has a 50 day moving average of $51.34 and a two-hundred day moving average 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 has a 1 year low of $33.16 and a 1 year high of $60.36.
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 analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Equities analysts predict that International Paper will post 2.77 EPS for the current fiscal 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 annualized dividend and a dividend yield of 3.88%. International Paper's dividend payout ratio (DPR) is currently 117.83%.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Finally, Truist Financial dropped their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has a consensus rating of "Moderate Buy" and an average target price of $54.77.
Read Our Latest Report on International Paper
About International Paper
(
Free Report)
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.
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