Korea Investment CORP Grows Position in International Paper (NYSE:IP)

Korea Investment CORP raised its position in International Paper (NYSE:IP) by 220.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,674 shares of the basic materials company’s stock after acquiring an additional 213,783 shares during the quarter. Korea Investment CORP’s holdings in International Paper were worth $16,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IP. Vanguard Group Inc. lifted its position in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock worth $2,217,119,000 after purchasing an additional 340,383 shares during the last quarter. Geode Capital Management LLC lifted its holdings in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after buying an additional 99,720 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares in the last quarter. Artemis Investment Management LLP increased its holdings in shares of International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Paper by 2.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company’s stock valued at $97,686,000 after acquiring an additional 42,151 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $53.23 on Friday. The stock’s 50-day moving average price is $54.86 and its 200 day moving average price is $53.71. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36.

International Paper (NYSE:IP) last released its earnings results 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 2.99% and a return on equity of 4.75%. As a group, equities research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IP shares. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday. Finally, Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

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.