Massachusetts Financial Services Co. MA Increases Position in International Paper (NYSE:IP)

Massachusetts Financial Services Co. MA boosted its position in shares of International Paper (NYSE:IP - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,370,685 shares of the basic materials company's stock after acquiring an additional 74,759 shares during the period. Massachusetts Financial Services Co. MA owned about 0.97% of International Paper worth $181,410,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. OLD Mission Capital LLC purchased a new position in International Paper in the fourth quarter valued at $3,192,000. Geode Capital Management LLC increased its holdings in shares of International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock valued at $450,586,000 after acquiring an additional 24,816 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of International Paper by 31.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,840 shares of the basic materials company's stock worth $325,000 after acquiring an additional 1,396 shares in the last quarter. Colrain Capital LLC purchased a new stake in International Paper during the fourth quarter worth approximately $4,346,000. Finally, Summit Financial LLC boosted its holdings in International Paper by 4.3% in the fourth quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company's stock valued at $293,000 after purchasing an additional 224 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have recently issued reports on IP shares. StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Royal Bank of Canada restated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Truist Financial reissued a "buy" rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They set 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 given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, International Paper has a consensus rating of "Moderate Buy" and an average price target of $55.32.

International Paper Stock Performance

Shares of NYSE IP traded down $0.96 during mid-day trading on Wednesday, hitting $43.70. 1,131,427 shares of the company were exchanged, compared to its average volume of 9,299,720. 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 market cap of $23.07 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The stock has a 50 day simple moving average of $53.38 and a 200-day simple moving average of $53.73. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its 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 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 4.23%. International Paper's dividend payout ratio 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.