Clearbridge Investments LLC Raises Stake in International Paper (NYSE:IP)

Clearbridge Investments LLC increased its stake in International Paper (NYSE:IP) by 645.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 577,453 shares of the basic materials company’s stock after purchasing an additional 500,001 shares during the quarter. Clearbridge Investments LLC owned 0.17% of International Paper worth $31,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IP. Vanguard Group Inc. grew its holdings in International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after purchasing an additional 340,383 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of International Paper by 1.2% in 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 in the last quarter. Point72 Asset Management L.P. grew its stake in International Paper by 511.1% in the 3rd 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 acquiring an additional 2,484,386 shares during the last quarter. Norges Bank purchased a new position in International Paper during the 4th quarter valued at about $109,201,000. Finally, Artemis Investment Management LLP raised its position in 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 worth $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Trading Up 0.5 %

NYSE IP opened at $53.62 on Wednesday. The company has a market cap of $28.21 billion, a P/E ratio of 34.15, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a 50-day moving average of $54.69 and a 200-day moving average of $53.83.

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 return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 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.