Raymond James Financial Inc. Buys New Stake in International Paper (NYSE:IP)

Raymond James Financial Inc. bought a new stake in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 395,895 shares of the basic materials company's stock, valued at approximately $21,307,000. Raymond James Financial Inc. owned 0.11% of International Paper as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after buying an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of International Paper in the 3rd quarter worth approximately $24,327,000. Aptus Capital Advisors LLC grew its position in shares of International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company's stock worth $292,000 after buying an additional 785 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of International Paper in the 4th quarter worth approximately $376,000. Finally, Everence Capital Management Inc. purchased a new position in shares of International Paper in the 4th quarter worth approximately $828,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Performance

NYSE IP traded up $0.18 on Monday, hitting $51.59. 4,530,598 shares of the company's stock traded hands, compared to its average volume of 10,077,119. 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 1-year low of $33.16 and a 1-year high of $60.36. The firm's 50-day moving average price is $55.18 and its two-hundred day moving average price is $53.36. The firm has a market capitalization of $27.14 billion, a PE ratio of 32.86, a P/E/G ratio of 0.39 and a beta of 1.02.

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International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data 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%. As a group, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. International Paper's dividend payout ratio is currently 117.83%.

Analysts Set New Price Targets

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

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.