OFI Invest Asset Management Buys Shares of 64,836 International Paper (NYSE:IP)

OFI Invest Asset Management bought a new position in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 64,836 shares of the basic materials company's stock, valued at approximately $3,370,000.

Several other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in International Paper during the third quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in International Paper in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the fourth quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the third quarter worth $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

IP has been the subject of several recent research reports. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. BNP Paribas lowered shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial reissued a "buy" rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.86.

Remove Ads

International Paper Stock Performance

Shares of IP traded down $0.33 during midday trading on Thursday, hitting $50.30. 5,736,432 shares of the stock traded hands, compared to its average volume of 10,304,930. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The business's 50 day moving average price is $55.26 and its two-hundred day moving average price is $53.30. The firm has a market capitalization of $26.46 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. 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 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 net margin of 2.99% and a return on equity of 4.75%. Equities research analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.68%. 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.