Fisher Funds Management LTD Purchases New Stake in International Paper (NYSE:IP)

Fisher Funds Management LTD acquired a new position in shares of International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel reports. The fund acquired 98,591 shares of the basic materials company’s stock, valued at approximately $5,298,000.

Other large investors also recently made changes to their positions in the company. Allianz Asset Management GmbH boosted its position in International Paper by 4.7% during the 4th quarter. Allianz Asset Management GmbH now owns 844,967 shares of the basic materials company’s stock worth $45,476,000 after purchasing an additional 37,951 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter worth about $26,000. Handelsbanken Fonder AB boosted its position in shares of International Paper by 6.0% in the fourth quarter. Handelsbanken Fonder AB now owns 15,238 shares of the basic materials company’s stock worth $820,000 after buying an additional 869 shares during the period. Private Advisor Group LLC boosted its position in shares of International Paper by 1.2% in the fourth quarter. Private Advisor Group LLC now owns 45,249 shares of the basic materials company’s stock worth $2,435,000 after buying an additional 524 shares during the period. Finally, Prossimo Advisors LLC raised its holdings in shares of International Paper by 14.2% during the 4th quarter. Prossimo Advisors LLC now owns 11,802 shares of the basic materials company’s stock valued at $635,000 after buying an additional 1,466 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $55.62 on Friday. The firm has a fifty day moving average of $55.59 and a two-hundred day moving average of $52.68. The firm has a market cap of $19.32 billion, a P/E ratio of 35.43, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36. 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 posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. As a group, research analysts anticipate that International Paper will post 2.77 earnings per share 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. Stockholders of record on Monday, February 24th will be issued a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.33%. International Paper’s dividend payout ratio (DPR) is 117.84%.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IP. 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, January 31st. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.