1,350 Shares in International Paper (NYSE:IP) Bought by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. bought a new stake in International Paper (NYSE:IP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,350 shares of the basic materials company’s stock, valued at approximately $73,000.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC grew its position in shares of 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 in the last quarter. Point72 Asset Management L.P. grew 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 valued at $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after purchasing an additional 1,202,632 shares in the last quarter. Hill City Capital LP grew its position in shares of International Paper by 287.5% in the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after purchasing an additional 1,150,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after buying an additional 537,825 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

IP opened at $51.29 on Friday. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $54.96 and a 200-day moving average price of $53.46. The stock has a market capitalization of $26.99 billion, a P/E ratio of 32.67, a PEG ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last released its 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 net margin of 2.99% and a return on equity of 4.75%. Equities analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday. They set an “overweight” rating and a $59.00 target price for the company. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Finally, StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

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.