Tobam Purchases New Position in International Paper (NYSE:IP)

Tobam acquired a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,649 shares of the basic materials company’s stock, valued at approximately $89,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of International Paper during the 2nd quarter worth about $1,104,000. Czech National Bank lifted its holdings in International Paper by 6.9% in the 3rd quarter. Czech National Bank now owns 70,762 shares of the basic materials company’s stock worth $3,457,000 after purchasing an additional 4,575 shares during the last quarter. GAMMA Investing LLC boosted its position in International Paper by 51.9% during the third quarter. GAMMA Investing LLC now owns 2,971 shares of the basic materials company’s stock worth $145,000 after purchasing an additional 1,015 shares during the period. Atomi Financial Group Inc. grew its holdings in International Paper by 30.9% during the third quarter. Atomi Financial Group Inc. now owns 8,259 shares of the basic materials company’s stock valued at $403,000 after purchasing an additional 1,952 shares during the last quarter. Finally, Clarius Group LLC bought a new position in shares of International Paper in the third quarter valued at approximately $210,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.7 %

NYSE IP opened at $56.15 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The stock has a market cap of $19.51 billion, a PE ratio of 35.76 and a beta of 1.02. The firm has a 50-day simple moving average of $55.73 and a 200 day simple moving average of $51.88. 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 (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. On average, research analysts forecast that International Paper will post 3.01 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned 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 price target of $51.88.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

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.