International Paper (NYSE:IP) Shares Acquired by Korea Investment CORP

Korea Investment CORP boosted its stake in shares of International Paper (NYSE:IP - Free Report) by 220.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 310,674 shares of the basic materials company's stock after acquiring an additional 213,783 shares during the quarter. Korea Investment CORP owned 0.09% of International Paper worth $16,720,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. CMC Financial Group purchased a new stake in International Paper during the fourth quarter worth $218,000. Vanguard Group Inc. boosted its stake in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after acquiring an additional 340,383 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of International Paper during the 4th quarter valued at about $403,000. KLP Kapitalforvaltning AS purchased a new position in shares of International Paper in the 4th quarter valued at about $6,292,000. Finally, Sei Investments Co. raised its holdings in International Paper by 9.4% in the 4th quarter. Sei Investments Co. now owns 398,830 shares of the basic materials company's stock worth $21,465,000 after purchasing an additional 34,414 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on IP shares. JPMorgan Chase & Co. began coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective for the company. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Finally, StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.32.

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International Paper Trading Down 11.5 %

IP traded down $6.25 on Thursday, hitting $48.21. The company had a trading volume of 2,678,426 shares, compared to its average volume of 9,392,354. The company's fifty day moving average price is $54.62 and its 200 day moving average price is $53.84. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market cap of $25.36 billion, a P/E ratio of 30.71, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. As a group, equities analysts expect that International Paper will post 2.77 earnings per share for the current 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's dividend payout ratio (DPR) is 117.83%.

International Paper 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.