Erste Asset Management GmbH Boosts Holdings in International Paper (NYSE:IP)

Erste Asset Management GmbH raised its holdings in International Paper (NYSE:IP - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 160,100 shares of the basic materials company's stock after acquiring an additional 23,500 shares during the quarter. Erste Asset Management GmbH's holdings in International Paper were worth $8,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of International Paper by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company's stock valued at $20,412,000 after purchasing an additional 10,632 shares during the last quarter. Assetmark Inc. boosted its stake in shares of International Paper by 38.8% in the 3rd quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 331 shares during the last quarter. Atria Investments Inc boosted its stake in shares of International Paper by 58.7% in the 3rd quarter. Atria Investments Inc now owns 20,192 shares of the basic materials company's stock valued at $986,000 after purchasing an additional 7,465 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of International Paper in the 3rd quarter valued at $28,000. Finally, Apollon Wealth Management LLC boosted its stake in shares of International Paper by 16.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 9,643 shares of the basic materials company's stock valued at $471,000 after purchasing an additional 1,334 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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International Paper Stock Up 2.1 %

Shares of IP stock traded up $1.06 on Friday, hitting $51.44. The stock had a trading volume of 4,689,678 shares, compared to its average volume of 10,190,338. The business has a 50 day moving average of $55.18 and a 200 day moving average of $53.33. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 12-month low of $33.16 and a 12-month 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 the consensus estimate 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, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.60%. International Paper's dividend payout ratio is currently 117.83%.

Analyst Ratings Changes

A number of research firms have recently commented on IP. Truist Financial reaffirmed a "buy" rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.86.

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.