SVB Wealth LLC Takes $223,000 Position in International Paper (NYSE:IP)

SVB Wealth LLC purchased a new position in International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,151 shares of the basic materials company’s stock, valued at approximately $223,000.

Several other hedge funds have also recently bought and sold shares of IP. FMR LLC boosted 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 purchasing an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. raised 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 buying an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position 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 buying an additional 2,354,341 shares in the last quarter. Artemis Investment Management LLP grew its stake in International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. Finally, Hill City Capital LP increased its holdings in International Paper by 287.5% during the 3rd quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after acquiring an additional 1,150,000 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IP shares. Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Citigroup initiated coverage on International Paper in a research report on Wednesday. They set a “buy” rating and a $60.00 price target for the company. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Stock Performance

International Paper stock opened at $52.71 on Thursday. The stock has a fifty day moving average price of $55.60 and a 200 day moving average price of $53.20. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The firm has a market capitalization of $27.73 billion, a P/E ratio of 33.57, a PEG ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. Equities research analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

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.