Picton Mahoney Asset Management Grows Stock Holdings in International Paper (NYSE:IP)

Picton Mahoney Asset Management lifted its position in shares of International Paper (NYSE:IP) by 67.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 536 shares of the basic materials company’s stock after buying an additional 215 shares during the quarter. Picton Mahoney Asset Management’s holdings in International Paper were worth $29,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of International Paper during the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new stake in International Paper in the 4th quarter valued at $26,000. Brooklyn Investment Group bought a new stake in International Paper in the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the 3rd quarter valued at $28,000. Finally, Versant Capital Management Inc increased its holdings in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IP shares. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Truist Financial reiterated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.86.

International Paper Stock Performance

International Paper stock opened at $51.59 on Tuesday. The company’s 50-day moving average price is $55.14 and its 200-day moving average price is $53.39. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. 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 $27.14 billion, a PE ratio of 32.86, 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%. On average, equities research analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.59%. International Paper’s 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.