International Paper (NYSE:IP) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of International Paper (NYSE:IP) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,195,085 shares of the basic materials company’s stock after purchasing an additional 340,383 shares during the period. Vanguard Group Inc. owned 11.86% of International Paper worth $2,217,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new stake in shares of International Paper in the third quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of International Paper during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the third quarter worth about $28,000. Finally, Picton Mahoney Asset Management boosted its position in International Paper by 67.0% during the fourth 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 during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday. Finally, Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

International Paper stock opened at $55.65 on Thursday. The company’s 50 day simple moving average is $54.96 and its 200-day simple moving average is $53.62. 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 1 year low of $33.16 and a 1 year high of $60.36. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last announced its 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%. As a group, equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

International Paper Company 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.