International Paper (NYSE:IP) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of International Paper (NYSE:IP) by 0.3% in the fourth quarter, Holdings Channel reports. The firm owned 8,393,217 shares of the basic materials company’s stock after buying an additional 24,816 shares during the quarter. Geode Capital Management LLC’s holdings in International Paper were worth $450,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of IP. Vanguard Group Inc. raised its holdings in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after buying an additional 340,383 shares during the last quarter. Norges Bank purchased a new stake in International Paper during the 4th quarter valued at approximately $109,201,000. Artemis Investment Management LLP lifted its position in International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares during the period. Amundi grew its stake in shares of International Paper by 28.7% in the 4th quarter. Amundi now owns 1,355,926 shares of the basic materials company’s stock valued at $74,142,000 after purchasing an additional 302,440 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of International Paper by 4.5% in the third quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock valued at $44,774,000 after purchasing an additional 39,404 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

NYSE IP opened at $47.89 on Friday. The business has a 50 day moving average price of $54.18 and a 200 day moving average price of $53.79. The company has a market capitalization of $25.20 billion, a P/E ratio of 30.50, a PEG ratio of 0.39 and a beta of 0.99. International Paper has a 1-year low of $33.16 and a 1-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.

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 net margin of 2.99% and a return on equity of 4.75%. Sell-side 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 was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IP shares. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Truist Financial reissued a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Finally, Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.32.

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.