Vanguard Group Inc. Boosts Stock Holdings in International Paper (NYSE:IP)

Vanguard Group Inc. increased its stake in shares of International Paper (NYSE:IP) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 41,195,085 shares of the basic materials company’s stock after purchasing an additional 340,383 shares during the period. Vanguard Group Inc. owned approximately 0.12% of International Paper worth $2,217,119,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of International Paper during the third quarter worth about $25,000. Sierra Ocean LLC purchased a new position in International Paper in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the 4th quarter worth approximately $26,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper in the 3rd quarter valued at approximately $28,000. Finally, 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 purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IP. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

Shares of NYSE:IP opened at $55.65 on Thursday. International Paper has a one year low of $33.16 and a one year high of $60.36. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 0.39 and a beta of 1.02. The company has a 50-day simple moving average of $54.96 and a 200-day simple moving average of $53.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

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 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, analysts predict that International Paper will post 2.77 EPS for the current 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 paid a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.32%. International Paper’s dividend payout ratio is currently 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.