Arvest Investments Inc. Takes $1.82 Million Position in International Paper (NYSE:IP)

Arvest Investments Inc. acquired a new stake in International Paper (NYSE:IP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 33,796 shares of the basic materials company’s stock, valued at approximately $1,819,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in shares of International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 177 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after buying an additional 200 shares during the period. AlphaMark Advisors LLC raised its holdings in shares of International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after buying an additional 204 shares during the period. Inspire Advisors LLC raised its holdings in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after buying an additional 204 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after buying an additional 205 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IP. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set 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 report on Friday, January 31st. Finally, Truist Financial restated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Price Performance

Shares of IP opened at $52.70 on Thursday. The firm has a market cap of $27.73 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 0.39 and a beta of 1.02. The stock has a 50 day moving average of $55.07 and a 200-day moving average of $53.41. The company has a current ratio of 1.49, a quick ratio of 1.08 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 issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 3.51%. International Paper’s dividend payout ratio is currently 117.83%.

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.