Orca Wealth Management LLC bought a new position in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,252 shares of the basic materials company's stock, valued at approximately $875,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in IP. FMR LLC grew its position in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company's stock valued at $871,447,000 after acquiring an additional 8,370,273 shares during the last quarter. Point72 Asset Management L.P. increased its position in 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 purchasing an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in International Paper by 125.1% in 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 during the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of International Paper during the third quarter worth $84,526,000. Finally, Artemis Investment Management LLP increased its holdings in shares of International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock worth $108,706,000 after buying an additional 1,202,632 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.
Insider Activity
In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now owns 37,145 shares of the company's stock, valued at $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 available through this link. 0.55% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on IP shares. Truist Financial reissued a "buy" rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday. Royal Bank of Canada restated an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Friday. Finally, BNP Paribas downgraded International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.88.
Read Our Latest Report on International Paper
International Paper Trading Down 2.5 %
NYSE:IP traded down $1.40 on Friday, reaching $55.65. 36,747,790 shares of the stock traded hands, compared to its average volume of 4,788,641. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company's 50 day moving average is $56.06 and its 200-day moving average is $51.62. The firm has a market capitalization of $19.33 billion, a price-to-earnings ratio of 47.56 and a beta of 1.03.
International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.49% and a net margin of 2.25%. Equities research analysts anticipate that International Paper will post 1.07 EPS for the current fiscal year.
International Paper Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, February 24th. International Paper's dividend payout ratio (DPR) is presently 158.12%.
International Paper Company Profile
(
Free Report)
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.
Further Reading
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