NEOS Investment Management LLC Acquires 4,978 Shares of International Paper (NYSE:IP)

NEOS Investment Management LLC lifted its holdings in shares of International Paper (NYSE:IP - Free Report) by 31.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,785 shares of the basic materials company's stock after buying an additional 4,978 shares during the period. NEOS Investment Management LLC's holdings in International Paper were worth $1,119,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IP. Pacer Advisors Inc. grew its stake in shares of International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after buying an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper in the 3rd quarter worth about $24,327,000. Wedmont Private Capital bought a new position in International Paper in the fourth quarter valued at about $376,000. Everence Capital Management Inc. acquired a new stake in shares of International Paper during the fourth quarter valued at about $828,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after purchasing an additional 15,904 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research reports. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. began coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target for the company. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, Truist Financial restated a "buy" rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.32.

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International Paper Stock Performance

Shares of IP traded down $6.25 during mid-day trading on Thursday, hitting $48.21. The stock had a trading volume of 2,678,426 shares, compared to its average volume of 9,392,354. The business has a fifty day moving average price of $54.62 and a 200-day moving average price of $53.84. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The firm has a market cap of $25.36 billion, a P/E ratio of 30.71, a PEG ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Monday, February 24th. International Paper's dividend payout ratio (DPR) 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.