International Paper (NYSE:IP) Position Raised by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC raised its stake in International Paper (NYSE:IP) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,258 shares of the basic materials company’s stock after buying an additional 305 shares during the quarter. HBK Sorce Advisory LLC’s holdings in International Paper were worth $391,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IP. FMR LLC increased its holdings in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the period. Artemis Investment Management LLP increased its holdings in shares of International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after purchasing an additional 1,202,632 shares during the period. Hill City Capital LP increased its holdings in shares of International Paper by 287.5% during the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after purchasing an additional 1,150,000 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after purchasing an additional 537,825 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on IP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. 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. Finally, Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Trading Up 2.1 %

Shares of NYSE IP opened at $51.44 on Friday. International Paper has a one year low of $33.16 and a one year high of $60.36. The firm has a market capitalization of $27.06 billion, a PE ratio of 32.76, a PEG ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $55.18 and a two-hundred day moving average price of $53.30.

International Paper (NYSE:IP) last announced 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 return on equity of 4.75% and a net margin of 2.99%. As a group, analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.60%. 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.