Diamond Hill Capital Management Inc. Has $226.97 Million Stake in International Paper (NYSE:IP)

Diamond Hill Capital Management Inc. trimmed its holdings in International Paper (NYSE:IP) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,217,245 shares of the basic materials company’s stock after selling 18,601 shares during the period. Diamond Hill Capital Management Inc.’s holdings in International Paper were worth $226,972,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. HBK Sorce Advisory LLC lifted its position in shares of International Paper by 4.4% in the fourth quarter. HBK Sorce Advisory LLC now owns 7,258 shares of the basic materials company’s stock valued at $391,000 after buying an additional 305 shares during the last quarter. Erste Asset Management GmbH increased its stake in shares of International Paper by 17.2% during the fourth quarter. Erste Asset Management GmbH now owns 160,100 shares of the basic materials company’s stock worth $8,724,000 after purchasing an additional 23,500 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of International Paper by 42.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,763 shares of the basic materials company’s stock worth $472,000 after purchasing an additional 2,614 shares during the period. Inspire Advisors LLC increased its stake in shares of International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 204 shares during the period. Finally, Ranch Capital Advisors Inc. increased its stake in shares of International Paper by 1.8% during the fourth quarter. Ranch Capital Advisors Inc. now owns 39,082 shares of the basic materials company’s stock worth $2,103,000 after purchasing an additional 684 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Price Performance

International Paper stock opened at $50.30 on Friday. The stock’s fifty day moving average price is $55.21 and its two-hundred day moving average price is $53.28. International Paper has a one year low of $33.16 and a one 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. The firm has a market cap of $26.46 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last posted its quarterly earnings data 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 expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.68%. International Paper’s payout ratio is 117.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IP. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Friday, January 31st. Bank of America began coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Truist Financial reiterated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

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.