Alpine Global Management LLC Buys New Stake in International Paper (NYSE:IP)

Alpine Global Management LLC purchased a new stake in shares of International Paper (NYSE:IP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,310 shares of the basic materials company’s stock, valued at approximately $501,000.

A number of other institutional investors have also made changes to their positions in IP. Vanguard Group Inc. raised its position in shares of International Paper by 0.8% during 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. Capital Research Global Investors boosted its stake in International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after buying an additional 12,191,361 shares in the last quarter. FMR LLC lifted its holdings in shares of International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after acquiring an additional 8,720,575 shares during the period. Geode Capital Management LLC grew its holdings in shares of International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock worth $450,586,000 after purchasing an additional 24,816 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in International Paper by 2.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,685 shares of the basic materials company’s stock valued at $181,410,000 after purchasing an additional 74,759 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $45.14 on Tuesday. The business has a 50-day moving average of $51.71 and a 200-day moving average of $53.62. International Paper has a fifty-two week low of $33.16 and a fifty-two week 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. The stock has a market capitalization of $23.83 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. As a group, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.10%. International Paper’s payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

IP has been the topic of several recent analyst reports. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Wells Fargo & Company decreased their price target on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price 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.