Pacer Advisors Inc. Purchases 7,424 Shares of International Paper (NYSE:IP)

Pacer Advisors Inc. increased its position in shares of International Paper (NYSE:IP) by 28.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,330 shares of the basic materials company’s stock after buying an additional 7,424 shares during the period. Pacer Advisors Inc.’s holdings in International Paper were worth $1,794,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in International Paper during the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in International Paper during the third quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in International Paper during the third quarter worth $28,000. Versant Capital Management Inc raised its stake in 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 buying an additional 448 shares during the last quarter. Finally, City State Bank raised its stake in International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 2.5 %

Shares of NYSE IP opened at $55.65 on Friday. The stock has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03. The company has a 50-day moving average price of $56.06 and a 200-day moving average price of $51.62. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.25% and a return on equity of 6.49%. On average, equities research analysts forecast that International Paper will post 1.07 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is currently 158.12%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday. Truist Financial restated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

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.