OLD Mission Capital LLC Takes $3.19 Million Position in International Paper (NYSE:IP)

OLD Mission Capital LLC purchased a new stake in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 59,303 shares of the basic materials company's stock, valued at approximately $3,192,000.

A number of other large investors have also recently bought and sold shares of IP. Vanguard Group Inc. boosted its position in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of International Paper by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after buying an additional 24,816 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock worth $145,106,000 after buying an additional 2,484,386 shares during the period. Norges Bank bought a new stake in shares of International Paper in the 4th quarter valued at $109,201,000. Finally, Artemis Investment Management LLP lifted its position in shares of International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock valued at $108,706,000 after acquiring an additional 1,202,632 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

International Paper Stock Down 2.6 %

NYSE:IP traded down $1.29 during trading hours on Friday, hitting $47.89. 8,125,261 shares of the company traded hands, compared to its average volume of 9,480,998. 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 company has a market cap of $25.20 billion, a PE ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99. The firm's 50-day simple moving average is $54.18 and its 200-day simple moving average is $53.82. International Paper has a one year low of $33.16 and a one 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 analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Monday, February 24th. International Paper's payout ratio is 117.83%.

Analyst Upgrades and Downgrades

A number of research firms have commented on IP. Truist Financial restated a "buy" rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating for the company. Finally, StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Paper has an average rating of "Moderate Buy" and a consensus price target of $55.32.

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.