Fmr LLC Has $1.43 Billion Stock Position in International Paper (NYSE:IP)

Fmr LLC boosted its holdings in shares of International Paper (NYSE:IP) by 48.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,559,812 shares of the basic materials company’s stock after buying an additional 8,720,575 shares during the quarter. Fmr LLC owned approximately 0.08% of International Paper worth $1,429,449,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Sierra Ocean LLC bought a new position in shares of International Paper in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the 4th quarter valued at about $26,000. Picton Mahoney Asset Management raised its holdings in 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 acquiring an additional 215 shares during the period. Legacy Investment Solutions LLC acquired a new stake in International Paper during the third quarter worth approximately $28,000. Finally, Versant Capital Management Inc boosted its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IP shares. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Finally, Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

IP stock opened at $47.89 on Monday. The company has a market capitalization of $25.20 billion, a P/E ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99. The company has a fifty day moving average price of $54.18 and a 200-day moving average price of $53.85. 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 has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP) last announced 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%. As a group, equities analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

International Paper Company 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.