Capital World Investors Has $134.98 Million Holdings in International Paper (NYSE:IP)

Capital World Investors increased its stake in International Paper (NYSE:IP - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,507,971 shares of the basic materials company's stock after buying an additional 498,058 shares during the quarter. Capital World Investors owned about 0.72% of International Paper worth $134,979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after purchasing an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in International Paper in the 3rd quarter valued at about $24,327,000. Wedmont Private Capital acquired a new stake in shares of International Paper during the fourth quarter valued at about $376,000. Everence Capital Management Inc. purchased a new stake in shares of International Paper during the fourth quarter worth about $828,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of International Paper by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after acquiring an additional 15,904 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on IP. Wells Fargo & Company dropped their price objective on International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Truist Financial decreased their price objective on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Finally, Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.77.

International Paper Stock Performance

IP stock traded up $0.92 during trading on Thursday, reaching $47.67. 2,200,143 shares of the company's stock were exchanged, compared to its average volume of 8,617,651. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The firm has a market cap of $25.16 billion, a PE ratio of 30.36, a P/E/G ratio of 0.39 and a beta of 0.99. The company's fifty day moving average price is $51.34 and its 200-day moving average price is $53.53. 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 issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. On average, research analysts expect 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's dividend payout ratio (DPR) is currently 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.