Raymond James Financial Inc. Makes New Investment in International Paper (NYSE:IP)

Raymond James Financial Inc. acquired a new stake in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

Other large investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper during the fourth quarter worth $26,000. Picton Mahoney Asset Management increased its stake in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc lifted its position in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after buying an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after acquiring an additional 295 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Up 0.8 %

NYSE IP traded up $0.37 during trading on Thursday, reaching $47.12. 534,299 shares of the stock traded hands, compared to its average volume of 8,595,405. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. 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 firm has a market cap of $24.87 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The stock's 50-day moving average price is $51.34 and its 200 day moving average price is $53.53.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data 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%. Analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Monday, February 24th. International Paper's dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IP. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Truist Financial decreased their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday. Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Paper has a consensus rating of "Moderate Buy" and a consensus target price of $54.77.

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.