Mirae Asset Global Investments Co. Ltd. Acquires 8,669 Shares of International Paper (NYSE:IP)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of International Paper (NYSE:IP - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,106 shares of the basic materials company's stock after acquiring an additional 8,669 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in International Paper were worth $2,232,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company's stock worth $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC grew its position in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company's stock worth $407,463,000 after acquiring an additional 99,720 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock valued at $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in International Paper by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company's stock valued at $174,867,000 after purchasing an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company's stock worth $161,006,000 after purchasing an additional 537,825 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Up 1.8 %

Shares of IP stock traded up $0.96 on Thursday, reaching $55.59. The company had a trading volume of 11,234,202 shares, compared to its average volume of 12,582,354. The stock has a market cap of $19.31 billion, a PE ratio of 35.41 and a beta of 1.02. The company has a 50-day moving average of $55.48 and a 200-day moving average of $52.17. 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 12 month low of $33.16 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) 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, equities analysts forecast that International Paper will post 2.89 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's dividend payout ratio is currently 117.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. Truist Financial restated a "buy" rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America started coverage on International Paper in a research report on Thursday. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.88.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by company insiders.

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.