T. Rowe Price Investment Management Inc. raised its holdings in International Paper (NYSE:IP - Free Report) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,201,558 shares of the basic materials company's stock after buying an additional 17,852 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.35% of International Paper worth $64,668,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Sierra Ocean LLC purchased a new stake in shares of International Paper during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper during the 4th quarter worth about $26,000. Picton Mahoney Asset Management boosted its position in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of 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 in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Bank of America initiated coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. StockNews.com cut International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. began coverage on International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Finally, Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $54.77.
Check Out Our Latest Analysis on International Paper
International Paper Stock Performance
International Paper stock traded up $0.11 during trading hours on Tuesday, reaching $47.59. 4,030,464 shares of the stock were exchanged, compared to its average volume of 8,415,351. International Paper has a 52-week low of $34.54 and a 52-week high of $60.36. The stock has a market cap of $25.12 billion, a P/E ratio of 30.31, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm's 50 day moving average is $50.78 and its 200 day moving average is $53.61.
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 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 fiscal year.
International Paper Company Profile
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Free Report)
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.
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