OFI Invest Asset Management Takes $3.37 Million Position in International Paper (NYSE:IP)

OFI Invest Asset Management acquired a new stake in International Paper (NYSE:IP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,836 shares of the basic materials company’s stock, valued at approximately $3,370,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of International Paper in the 3rd quarter valued at about $25,000. Sierra Ocean LLC bought a new position in International Paper in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper during the fourth quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the 3rd quarter valued at $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter valued at $28,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of a number of analyst reports. Citigroup began coverage on International Paper in a research note on Wednesday. They set a “buy” rating and a $60.00 price objective for the company. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.86.

International Paper Stock Up 1.3 %

Shares of IP stock opened at $52.39 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The firm has a market capitalization of $27.56 billion, a PE ratio of 33.37, a P/E/G ratio of 0.39 and a beta of 1.02. The stock’s 50-day simple moving average is $55.49 and its 200-day simple moving average is $53.27.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio 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.