Arvest Investments Inc. Acquires New Shares in International Paper (NYSE:IP)

Arvest Investments Inc. acquired a new stake in shares of International Paper (NYSE:IP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,796 shares of the basic materials company’s stock, valued at approximately $1,819,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in International Paper during the 3rd quarter worth $25,000. Sierra Ocean LLC acquired a new position in International Paper during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the 4th quarter worth $26,000. Legacy Investment Solutions LLC acquired a new position in International Paper during the 3rd quarter worth $28,000. Finally, Picton Mahoney Asset Management boosted its position in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on IP shares. Citigroup assumed 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. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.86.

International Paper Stock Up 1.3 %

Shares of International Paper stock opened at $52.70 on Thursday. The stock’s fifty day moving average is $55.07 and its 200-day moving average is $53.41. The firm has a market capitalization of $27.73 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

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.