International Paper (NYSE:IP) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in International Paper (NYSE:IP) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,281 shares of the basic materials company’s stock after acquiring an additional 3,334 shares during the period. Daiwa Securities Group Inc.’s holdings in International Paper were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in International Paper during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the fourth quarter worth $26,000. Brooklyn Investment Group acquired a new position in International Paper during the third quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in International Paper during the third quarter worth $28,000. Finally, Ashton Thomas Securities LLC acquired a new position in International Paper during the third quarter worth $28,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Price Performance

IP stock opened at $51.44 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $27.06 billion, a PE ratio of 32.76, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The business’s fifty day moving average price is $55.18 and its 200 day moving average price is $53.30.

International Paper (NYSE:IP) last posted its quarterly earnings data 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, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued 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 3.60%. International Paper’s dividend payout ratio is presently 117.83%.

Analysts Set New Price Targets

IP has been the topic of a number of recent research reports. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Truist Financial restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper 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.