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

Raymond James Financial Inc. acquired a new stake in shares of International Paper (NYSE:IP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company's stock worth $871,447,000 after buying an additional 8,370,273 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of International Paper by 511.1% during the third 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 last quarter. Artemis Investment Management LLP grew its stake 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 during the last quarter. Hill City Capital LP grew its stake in shares of International Paper by 287.5% during the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company's stock worth $75,718,000 after buying an additional 1,150,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company's stock worth $161,006,000 after buying an additional 537,825 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. Truist Financial reissued a "buy" rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday. They issued an "overweight" rating and a $59.00 price objective on the stock. Finally, Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.32.

International Paper Trading Down 0.8 %

IP traded down $0.44 during trading on Thursday, reaching $52.18. 6,440,034 shares of the stock traded hands, compared to its average volume of 9,748,813. 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 stock has a market capitalization of $27.45 billion, a PE ratio of 33.24, a P/E/G ratio of 0.39 and a beta of 1.02. The stock's 50-day moving average is $55.07 and its 200 day moving average is $53.41. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36.

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

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.55%. International Paper's dividend payout ratio (DPR) is currently 117.83%.

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.