Raymond James Financial Inc. Takes $21.31 Million Position in International Paper (NYSE:IP)

Raymond James Financial Inc. acquired a new stake in International Paper (NYSE:IP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 395,895 shares of the basic materials company's stock, valued at approximately $21,307,000. Raymond James Financial Inc. owned approximately 0.11% of International Paper at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of International Paper by 1.4% in the fourth quarter. Arizona State Retirement System now owns 95,851 shares of the basic materials company's stock valued at $5,159,000 after buying an additional 1,316 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of International Paper in the fourth quarter valued at about $9,063,000. SPC Financial Inc. raised its holdings in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock valued at $759,000 after buying an additional 200 shares during the last quarter. Assetmark Inc. raised its holdings in shares of International Paper by 79.9% in the fourth quarter. Assetmark Inc. now owns 2,130 shares of the basic materials company's stock valued at $115,000 after buying an additional 946 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of International Paper by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,989 shares of the basic materials company's stock valued at $1,345,000 after buying an additional 537 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Remove Ads

International Paper Price Performance

International Paper stock traded up $0.59 during mid-day trading on Tuesday, reaching $52.17. The company had a trading volume of 1,742,196 shares, compared to its average volume of 9,909,361. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market capitalization of $27.45 billion, a P/E ratio of 33.23, a P/E/G ratio of 0.39 and a beta of 1.02. The stock's 50-day simple moving average is $55.14 and its 200-day simple moving average is $53.39.

International Paper (NYSE:IP - Get Free Report) last released its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. On average, equities analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio is presently 117.83%.

Analyst Upgrades and Downgrades

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

About International Paper

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.