International Paper (NYSE:IP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of International Paper (NYSE:IP) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,393,217 shares of the basic materials company’s stock after acquiring an additional 24,816 shares during the quarter. Geode Capital Management LLC owned about 2.42% of International Paper worth $450,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sierra Ocean LLC purchased a new position in shares of International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper during the fourth quarter worth $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the third quarter valued at $28,000. Picton Mahoney Asset Management raised its holdings in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc lifted its stake in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP stock opened at $47.89 on Friday. The business has a 50 day moving average price of $54.18 and a 200 day moving average price of $53.79. 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 stock has a market cap of $25.20 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last issued 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%. Equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Analysts Set New Price Targets

IP has been the subject of several research reports. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Finally, Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. One equities research 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. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

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.