Marshall Wace LLP Takes $34.97 Million Position in International Paper (NYSE:IP)

Marshall Wace LLP purchased a new position in International Paper (NYSE:IP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 649,832 shares of the basic materials company's stock, valued at approximately $34,974,000. Marshall Wace LLP owned about 0.19% of International Paper at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new position in shares of International Paper during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper in the fourth quarter worth approximately $26,000. Picton Mahoney Asset Management increased its holdings in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares during the last quarter. Versant Capital Management Inc raised its position in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after acquiring an additional 448 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after acquiring an additional 295 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IP. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. Truist Financial cut their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.77.

International Paper Trading Up 0.8 %

International Paper stock traded up $0.36 during midday trading on Wednesday, reaching $46.84. The stock had a trading volume of 3,640,859 shares, compared to its average volume of 8,690,347. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The company has a fifty day moving average of $51.53 and a 200 day moving average of $53.57. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. 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 posted its quarterly earnings data 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%. On average, analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend 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.