Cibc World Markets Corp Has $10.09 Million Stake in International Paper (NYSE:IP)

Cibc World Markets Corp raised its stake in International Paper (NYSE:IP) by 306.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,444 shares of the basic materials company’s stock after purchasing an additional 141,284 shares during the quarter. Cibc World Markets Corp owned 0.05% of International Paper worth $10,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in International Paper by 38.8% during the third quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 331 shares during the last quarter. KBC Group NV lifted its position in shares of International Paper by 23.4% during the 3rd quarter. KBC Group NV now owns 51,072 shares of the basic materials company’s stock worth $2,495,000 after buying an additional 9,693 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of International Paper by 5.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after buying an additional 314 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of International Paper by 8.4% in the third quarter. CIBC Asset Management Inc now owns 50,703 shares of the basic materials company’s stock valued at $2,477,000 after acquiring an additional 3,947 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of International Paper by 49.8% during the third quarter. Empowered Funds LLC now owns 42,628 shares of the basic materials company’s stock valued at $2,082,000 after acquiring an additional 14,178 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

IP has been the subject of a number of recent analyst reports. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.86.

International Paper Stock Up 0.7 %

Shares of NYSE IP opened at $51.93 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a market cap of $27.32 billion, a P/E ratio of 33.08, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The business has a 50-day simple moving average of $55.11 and a two-hundred day simple moving average of $53.41.

International Paper (NYSE:IP) last released 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%. Research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is 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.