OFI Invest Asset Management Takes $3.37 Million Position in International Paper (NYSE:IP)

OFI Invest Asset Management purchased a new position in shares of International Paper (NYSE:IP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,836 shares of the basic materials company’s stock, valued at approximately $3,370,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in shares of International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the 4th quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in International Paper in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper in the third quarter valued at approximately $28,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $52.39 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock’s fifty day moving average is $55.49 and its two-hundred day moving average is $53.27. The firm has a market capitalization of $27.56 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. 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 announced its quarterly earnings results 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 net margin of 2.99% and a return on equity of 4.75%. On average, research analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.53%. International Paper’s payout ratio is 117.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Bank of America began coverage on shares of International Paper in a research 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 price target on shares of International Paper in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup started coverage on International Paper in a research report on Wednesday. They issued a “buy” rating and a $60.00 target price 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.86.

About International Paper

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.