Geode Capital Management LLC Grows Position in International Paper (NYSE:IP)

Geode Capital Management LLC increased its stake in shares of International Paper (NYSE:IP - Free Report) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,393,217 shares of the basic materials company's stock after buying an additional 24,816 shares during the quarter. Geode Capital Management LLC owned 2.42% of International Paper worth $450,586,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IP. SPC Financial Inc. raised its holdings in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. AlphaMark Advisors LLC lifted its position in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after buying an additional 204 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after buying an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock worth $86,000 after buying an additional 205 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after acquiring an additional 212 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Tuesday. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. Truist Financial restated 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. Finally, Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, International Paper has an average rating of "Moderate Buy" and an average target price of $55.32.

International Paper Stock Performance

Shares of NYSE IP traded up $3.91 during mid-day trading on Wednesday, hitting $48.57. The company had a trading volume of 4,343,296 shares, compared to its average volume of 9,344,379. 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. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 0.39 and a beta of 0.99. The stock's 50-day moving average price is $53.38 and its 200-day moving average price is $53.73.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. On average, sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company 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. This represents a $1.85 annualized dividend and a yield of 3.81%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio is presently 117.83%.

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.