Fisher Funds Management LTD Makes New $5.30 Million Investment in International Paper (NYSE:IP)

Fisher Funds Management LTD bought a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 98,591 shares of the basic materials company’s stock, valued at approximately $5,298,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its position in International Paper by 88.4% during the third 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 period. Point72 Asset Management L.P. boosted its stake in shares of 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 acquiring an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares during the period. Ceredex Value Advisors LLC purchased a new position in International Paper in the 3rd quarter valued at approximately $84,526,000. Finally, Artemis Investment Management LLP raised its holdings 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 purchasing an additional 1,202,632 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on IP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.88.

International Paper Price Performance

International Paper stock opened at $55.62 on Friday. The firm’s 50-day moving average is $55.59 and its two-hundred day moving average is $52.68. 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 stock has a market capitalization of $19.32 billion, a P/E ratio of 35.43, 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.

International Paper (NYSE:IP) last released its 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%. Equities analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced 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 3.33%. International Paper’s dividend payout ratio (DPR) is presently 117.84%.

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.