Clearbridge Investments LLC Grows Stock Holdings in International Paper (NYSE:IP)

Clearbridge Investments LLC grew its holdings in International Paper (NYSE:IP) by 645.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 577,453 shares of the basic materials company’s stock after acquiring an additional 500,001 shares during the period. Clearbridge Investments LLC’s holdings in International Paper were worth $31,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schroder Investment Management Group lifted its position in International Paper by 588.7% during the 4th quarter. Schroder Investment Management Group now owns 301,538 shares of the basic materials company’s stock worth $16,178,000 after acquiring an additional 257,752 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of International Paper during the fourth quarter worth $65,000. Allstate Corp purchased a new position in shares of International Paper in the fourth quarter valued at $524,000. Brown Brothers Harriman & Co. grew its holdings in International Paper by 5.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 23,070 shares of the basic materials company’s stock valued at $1,242,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Norges Bank purchased a new stake in International Paper during the 4th quarter worth $109,201,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $53.62 on Wednesday. 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 firm has a 50-day simple moving average of $54.69 and a 200 day simple moving average of $53.83. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a market cap of $28.21 billion, a PE ratio of 34.15, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last announced its quarterly earnings results 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 return on equity of 4.75% and a net margin of 2.99%. On average, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is 117.83%.

Analyst Ratings Changes

Several analysts have recently weighed in on IP shares. Truist Financial restated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Citigroup initiated coverage on International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price for the company. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. One 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. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target 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.