Diamond Hill Capital Management Inc. Has $226.97 Million Holdings in International Paper (NYSE:IP)

Diamond Hill Capital Management Inc. cut its stake in shares of International Paper (NYSE:IP) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,217,245 shares of the basic materials company’s stock after selling 18,601 shares during the period. Diamond Hill Capital Management Inc. owned approximately 1.21% of International Paper worth $226,972,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. FMR LLC increased its holdings in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after acquiring an additional 537,825 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of NYSE IP opened at $50.30 on Friday. The stock has a 50 day moving average price of $55.21 and a 200 day moving average price of $53.28. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market capitalization of $26.46 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly 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 net margin of 2.99% and a return on equity of 4.75%. Analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.68%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reiterated 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.86.

About International Paper

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.