International Paper (NYSE:IP) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in shares of International Paper (NYSE:IP) by 42.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,763 shares of the basic materials company’s stock after purchasing an additional 2,614 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in International Paper were worth $472,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FMR LLC increased its stake in International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Geode Capital Management LLC grew its holdings in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Paper by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after acquiring an additional 537,825 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Price Performance

Shares of NYSE IP opened at $51.93 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. The company has a market capitalization of $27.32 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 0.39 and a beta of 1.02. The business has a 50-day moving average of $55.11 and a 200-day moving average of $53.41.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. On average, equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.86.

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.