Mariner LLC Raises Position in International Paper (NYSE:IP)

Mariner LLC lifted its position in shares of International Paper (NYSE:IP - Free Report) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,128 shares of the basic materials company's stock after purchasing an additional 11,361 shares during the period. Mariner LLC's holdings in International Paper were worth $4,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after buying an additional 8,720,575 shares during the last quarter. Norges Bank acquired a new position in International Paper in the 4th quarter valued at about $109,201,000. Artemis Investment Management LLP raised its stake in International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock valued at $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. Clearbridge Investments LLC lifted its position in International Paper by 645.6% during the 4th quarter. Clearbridge Investments LLC now owns 577,453 shares of the basic materials company's stock worth $31,079,000 after acquiring an additional 500,001 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of International Paper in the third quarter valued at approximately $24,327,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock traded up $0.36 during trading on Wednesday, hitting $46.84. 3,641,368 shares of the company were exchanged, compared to its average volume of 8,702,051. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $51.53 and a 200 day moving average price of $53.57. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates 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, equities analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.95%. International Paper's dividend payout ratio (DPR) is 117.83%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a "neutral" rating for the company. Truist Financial dropped their target price on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Finally, Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.77.

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.