Daiwa Securities Group Inc. Increases Stake in International Paper (NYSE:IP)

Daiwa Securities Group Inc. lifted its stake in International Paper (NYSE:IP) by 8.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,281 shares of the basic materials company’s stock after purchasing an additional 3,334 shares during the quarter. Daiwa Securities Group Inc.’s holdings in International Paper were worth $2,383,000 as of its most recent SEC filing.

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

International Paper Stock Performance

NYSE:IP opened at $51.44 on Friday. The company has a fifty day moving average of $55.18 and a two-hundred day moving average of $53.30. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The stock has a market capitalization of $27.06 billion, a PE ratio of 32.76, a P/E/G ratio of 0.39 and a beta of 1.02. 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 issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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, research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

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 paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

Wall Street Analysts Forecast Growth

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

International Paper 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.