80,750 Shares in International Paper (NYSE:IP) Acquired by Colrain Capital LLC

Colrain Capital LLC acquired a new stake in shares of International Paper (NYSE:IP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 80,750 shares of the basic materials company’s stock, valued at approximately $4,346,000. International Paper comprises 4.3% of Colrain Capital LLC’s holdings, making the stock its 7th biggest holding.

A number of other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of International Paper during the third quarter valued at $24,327,000. Wedmont Private Capital purchased a new stake in shares of International Paper during the fourth quarter valued at $376,000. Everence Capital Management Inc. bought a new stake in International Paper in the 4th quarter worth about $828,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after buying an additional 15,904 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

NYSE IP opened at $53.23 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The stock has a market cap of $28.01 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 0.39 and a beta of 1.02. The company’s 50 day moving average is $54.86 and its two-hundred day moving average is $53.76.

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%. As a group, research analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced 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 3.48%. 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

A number of brokerages have recently issued reports on IP. 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 report on Friday, January 31st. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Finally, StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.