Quantessence Capital LLC Makes New $11.15 Million Investment in International Paper (NYSE:IP)

Quantessence Capital LLC acquired a new position in International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 207,090 shares of the basic materials company's stock, valued at approximately $11,146,000. International Paper accounts for approximately 4.6% of Quantessence Capital LLC's investment portfolio, making the stock its 2nd biggest holding. Quantessence Capital LLC owned about 0.06% of International Paper at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IP. Pacer Advisors Inc. grew its position in International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of International Paper during the third quarter valued at approximately $24,327,000. Wedmont Private Capital purchased a new stake in shares of International Paper during the fourth quarter valued at approximately $376,000. Everence Capital Management Inc. bought a new stake in shares of International Paper during the fourth quarter valued at approximately $828,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after acquiring an additional 15,904 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on IP shares. Wells Fargo & Company cut their target price on International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a report on Friday, March 28th. Finally, Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. One equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.77.

International Paper Stock Up 2.0 %

Shares of IP stock opened at $47.67 on Friday. 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. The stock has a market cap of $25.16 billion, a P/E ratio of 30.36, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a 50 day simple moving average of $51.17 and a two-hundred day simple moving average of $53.53.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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, research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.88%. The ex-dividend date 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.