7,497 Shares in International Paper (NYSE:IP) Acquired by Stevens Capital Management LP

Stevens Capital Management LP purchased a new position in shares of International Paper (NYSE:IP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 7,497 shares of the basic materials company’s stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in International Paper during the 3rd quarter worth $25,000. Sierra Ocean LLC purchased a new position in International Paper during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in International Paper during the 4th quarter worth $26,000. Legacy Investment Solutions LLC purchased a new position in International Paper during the 3rd quarter worth $28,000. Finally, Picton Mahoney Asset Management increased its holdings 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 purchasing an additional 215 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 1.9 %

Shares of NYSE:IP opened at $51.29 on Monday. The business’s 50-day moving average is $54.96 and its 200 day moving average is $53.50. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The firm has a market capitalization of $26.99 billion, a P/E ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02. 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 (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 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, research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued 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 is presently 117.83%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup assumed coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday. They issued an “overweight” rating and a $59.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average price target of $55.32.

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.