Amundi Grows Stock Holdings in International Paper (NYSE:IP)

Amundi raised its holdings in shares of International Paper (NYSE:IP) by 28.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,355,926 shares of the basic materials company’s stock after buying an additional 302,440 shares during the period. Amundi’s holdings in International Paper were worth $74,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC bought a new position in shares of International Paper in the fourth quarter worth approximately $205,000. Inceptionr LLC boosted its position in shares of International Paper by 76.0% in the fourth quarter. Inceptionr LLC now owns 15,684 shares of the basic materials company’s stock worth $844,000 after purchasing an additional 6,772 shares during the period. Raymond James Financial Inc. bought a new position in shares of International Paper in the fourth quarter worth approximately $21,307,000. Arizona State Retirement System boosted its position in shares of International Paper by 1.4% in the fourth quarter. Arizona State Retirement System now owns 95,851 shares of the basic materials company’s stock worth $5,159,000 after purchasing an additional 1,316 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of International Paper during the fourth quarter worth $9,063,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on IP. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Truist Financial restated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.86.

International Paper Price Performance

International Paper stock opened at $49.36 on Wednesday. The company has a market cap of $25.97 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 0.39 and a beta of 1.02. The firm’s fifty day moving average is $55.33 and its 200 day moving average is $53.32. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP) last released 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 net margin of 2.99% and a return on equity of 4.75%. Sell-side analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 3.75%. The ex-dividend date 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.