Intech Investment Management LLC Increases Holdings in International Paper (NYSE:IP)

Intech Investment Management LLC boosted its position in shares of International Paper (NYSE:IP) by 117.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,970 shares of the basic materials company’s stock after purchasing an additional 8,633 shares during the quarter. Intech Investment Management LLC’s holdings in International Paper were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. Brooklyn Investment Group bought a new position in shares of International Paper during the third quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new stake in International Paper during the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in International Paper during the 4th quarter valued at $26,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter valued at $28,000. Finally, Picton Mahoney Asset Management raised its position in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday. They set an “overweight” rating and a $59.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Finally, Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average target price of $55.32.

International Paper Price Performance

NYSE IP opened at $51.29 on Monday. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 0.39 and a beta of 1.02. 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 stock’s fifty day moving average price is $54.96 and its 200 day moving average price is $53.50. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data 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, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

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.